I only get like 23k ticks with every cd, pve fury. There is no way you are getting 21k ticks in honor gear on a pvp target, not to mention that is during execute phase. (this is with on use, full raid buffs, 473 pve gear, reck, skull banner, orc racial)
Eh, you can definitely get it to tick way higher than that with all your cooldowns rolling. But point aside. It doesn't ingore armor because it's still based off your weapon hits. Which are effected by armor. I've also believe it double dips on resilience reductions? As in it reduces your strike damage and then the bleed caused off that is again reduced by resilience.
I've only used it a few times, but I just don't see it being worth using over Avatar.