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It would see more use for me if it could be freely targeted, but having to locate a target to use it on, shift to that target, use it, and then shift back to targeting the enemy is no bueno.
For the above, it is probably the way you do it, you aren't supposed to click a AM target after your cast. You hit the F1 button and select your AM target immediately during the cast, and at the end of the cast you AM over, and switch back to your enemy, which is usually the boss, by tabbing, if it is the sole target. If not you can click the boss on the map (which is usually big ass enough) or the adds via enmity list. That would require you to tweak your UI so that you have access to things really quick without losing time.