Nahal's Improved Alacrity?

I spent a lot of today playing around with Nahal's Reckless today. Learned some interesting things. Eventually I figured out you could actually use it to spam spells sort of like improved alacrity. I also realized that the risk seemed to take a huge drop when I had Neera under the effect of improved chaos shield. When she was protected I would say that about 50% of the time the spell I selected from Nahal's went off normally. I then thought that these are pretty good odds, given the cost of only a level one slot, and how the odds would only get better as she leveled up. Now I am trying to decide what I should do now that I have learned all this. I am curious as to what other people think of this spell.

I also realized that the random spell level is displayed wrong in game. When it says spell level increases by a certain number it actually decreases by that number and vise-versa. I assume that this is a known issue right?