As far as it's uses as a HEAL spell (not DPS) go, I use it quite frequently on massive mob pulls. The extra aether stacks can get you through to the end of the pull's danger zone on the tank, at which point not having a fairy isn't really a problem.

I don't really play that much SCH, so I can't comment that much otherwise, but as the leader of an eccentrics guild, I can see it having a lot of use in unconventional gameplay as well.