what I meant about re-gearing was that with the mana efficiency loss from losing your 10 in arcane, you'd have to get more intel on your gear, losing +dmg, +crit, or +hit. Of these, the +crit is probably your best thing to lose for a fire DPS build, but even then, +crit is another stat that helps with mana efficiency via Master of Elements (30% casting cost back on crits).
The reason you'd lose damage on your gear in the switch is this: With the way that Lloki runs his gearing, I have literally just barely enough mana in my pool to use all three charges of gems, three pots, evocation, and I usually run oom when Prince is at 2-3% or so. If I were to lose the 10% mana bonus through the arcane talent, that means that I go oom when prince is at 15%, not 2-3%...not cool, so I'd have to regem or regear into more intel at the expense of my +dmg, crit, or hit, making me do less damage, losing the point of getting IV in the first place...and I'm pretty sure the marginal +crit from intel would not overcome the loss of stats in other areas.
All that said, it's a SWEET talent for PVP, as stated, and I am only avoiding respeccing into it because Lloki will never PVP unless it's to get a specific piece of gear for PVE...he's too good at nuking bosses, and too terrible at killing horde. For PVP, go a frost 17/0/44 build (imp CS and lots of frost survivability), get Icy Veins, and never look back.
just my 2c