Saw a youtube vid of this back around launch under the caption "Endless Revives" pitched as a team support build for super bad random groups.

You don't bring damage, or heal, or CC, or really anything else useful. But you can draw endless amounts of fire, and because of continuously resetting the hive CD you always have a revive up for anyone who goes down.

Is it confirmed in-game whether the HW talents to shorten the reset CD actually work now, or is that still broken?

If they're still broken, at least it frees up the chest and back for more supporty talents like Vanguard and Protector. Then you could run all blue for more armor share, since toggling the shield still resets the hive, but you would lose the near full armor on rez.