Devourer's double-hit is strong as is. Nerf the bonus damage/attack speed.
I mean, the thing gets double hits every other auto and gives you a 50% attack speed boost. That in and of itself is strong, so why not keep the bonus magic damage at 30? You could remove it, but then stacking it wouldn't exactly be fair. However, 60 extra magic damage per hit is even stronger than the freaking Ardent Censor, which only gives like 30 and forces someone to build that lousy thing. Just hit the bonus magic damage and/or attack speed of the item with a nerf.
I mean, I understand the goal of the item is to be a risky choice that, when it works, it's a HUGE snowball, but when it doesn't it's extremely taxing on your whole team. However, the problem is that "when it works" is just too strong, seeing how it synergizes with on-hit effects both from the champ's kit and from the champ's build. Thus, the sated form needs nerfing so that its power is more from the double-hit effect and less from the extreme amount of mixed damage you get from it. Just my thoughts.