Given the items being released now, I think it's time for this baby to make a come back. (New catalyst i'm looking at you)
Also, it's a heart shaped box with a crown on it. What has become of you, RITO?
Riot has been removing items that have an aura because they dislike the hidden power of them. They aren't bringing it back without a rework of the passive, but at that point it would be a different item.
omg it's so cute
It won't come back for the simple reason of half the passive was giving mana back over 2 second. Champion with spammable ability would just abuse of the infinite sustain of both Health, and mana. 
were the two prime abuser of this item. It won't come back.
