Is Glyph of the Timekeeper working?

I was researching the Glyph of the Timekeeper as it's part of the Glacial Logging Tool. The searches I've done complain that the glyph rarely procs, likely due to some large ICD on the glyph. Is this still the case? I haven't seen any threads or updates indicating this has changed.

Glyph of the Timekeeper seems valuable, but only if it performs as advertised.

I wanted to follow up on this in case anyone else has the same query in the future. I decided to go ahead with the Glacial Logging Tool and it works as advertised. I don't notice any internal cool down and I have had it proc twice in a row in quick sequence. When logging nodes in my home instance, the glyph activated on 2 out of my 3 trees. It even went off in my guild hall on the wood synthesizer. It doesn't empty the whole node, just one burst of it. In general, the 1/3 activation rate seems accurate.

Overall, very happy I made this purchase.