There are skills that benefit greatly from reduced cooldown timer. E-shield isn't one of them, nor E-Boost, nor E-Harvest.
Players usually don't spam those skills and they are situational use. An actual player would know that. OTM loot designers do not.
Actually E-Harvest isn't bad if you have a reduced cooldown on it. In certain boss groups, I find that I run out of energy faster than a hero energy lix can gain it back. The 30% reduction to cooldown that my void skull gives, coupled with the imperial abyssal harv brace I'm using, makes the skill almost decent. At level 50 I gain back about 1200 energy, with a cooldown of about 40 seconds (I think). A faster cooldown on other skills make you lose energy faster, but a faster cooldown on e-harvest will make you gain energy faster.
My problem is that you need near godly gear to make the skill even half way decent. In my opinion it needs to steal double the amount it does now to be a good skill.