Does anyone other than Amumu build Frozen Heart anymore?
I almost never see Frozen Heart built by anyone other than Amumu, and very seldomly Ryze. 9 times out of 10, it is outclassed by the other component upgrades.
Defense-wise, 
upgrades offer far more than Frozen Heart:
- Outclasses Frozen Heart with virtually the same passive, while also offering better defensive stats through crit damage reduction and health.
- Better defense stats aside from armor, and also grants Grevious Wounds.
Utility-wise, 
upgrades offer more useful utility:
- Gives much more sticking potential, has the same CDR and mana, and offers a slight damage increase.
- Has one of the best engage actives in the game, as well as health, while having a bit less CDR.
All in all, Frozen Heart probably needs to offer more than just raw stats and a readily available attack speed reduction passive.
Possible changes:
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Unique Active: For the next X seconds, enemy champions within X range are slowed by 30% (15% when used by ranged champions). 90 second cooldown.
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Unique Active/Toggle: Expend X mana per second to slow enemy champions within X range by 30% (15% when used by ranged champions).
-
Unique Active: For the next X seconds, 20% of all physical/auto attack damage is dealt to your mana instead. 60 second cooldown.
if jungling
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until you have a full tank item.
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for Maokai, 
on Nautilus if you really need some MR, otherwise build it later.
isn't a bad choice, but more likely than not you'll need a 
