First off, thanks for not keeping the first version of the change. I am not sure if I understand the notes correctly though. Is it going to add 500 WD/SD to that damage instance or 500 flat?
If it is the latter I think this version looks much cooler than the previous one. Limiting interactions to 2h-skills only was dreadful and the uncapped percentage bonus was just asking to be abused.
Does this version work via a buff on the player or a debuff on the enemy?
Could you make it so, that the set works via a debuff on the enemy that is classified as a bleeding effect, just to preserve existing set interactions?
You could also still just keep the live version, just as long as you don't return to the week 1 abomination.