They reduced the global cooldown for totem drops from 1.5 to 1 second, so no, the new ability doesn’t save you any time. You can manually drop 4 totems in 3 seconds of global cooldown, or spend 3 seconds casting for call of the ancestors.
Problem is, there’s hardly any situation where a shaman of any spec wants to consistently drop the same 4 totems (or even 4 totems at all). Totems are meant to be dynamic, outside of the flat buff types.