I have been playing Totemic on the PTR, and in game. The new changes to Totemic are good. From testing my current builds with the newly added talents on the PTR, I have found Totemic having competitive damage with Stormbringer.
Now I will state this: On TARGET DUMMIES the damage is good. In a dungeon/raid where you need to move around move the totem, and your mileage will vary. Knowing the dungeon and when and where to move the totem will be very important and part of your dps. Also knowing how the tank will move and tank is also important.
That said, I will be playing Totemic full time once the patch is released and will see how it goes. I think it will be fine.