1) Zed's shurikens now work like Lux's Light Binding

http://img2.wikia.nocookie.net/__cb20121107025127/leagueoflegends/images/c/c3/Razor_Shuriken.jpg Full damage on first enemy hit, stops on 2nd enemy hit for reduced damage. (60%, same as it is now.)

He retains all of the burst needed for single-target assassination, as is his identity, but fixes his mana-less, infinite harass/waveclear problem. It also allows some counterplay by hiding behind minions, but rewards him more for using his shadow to reach around minions to strike his opponent. It provides counterplay, and also encourages strategy on his part.

2. When Zed ulti's and then appears behind you, Zed must now wait 4/2/0 seconds before he can teleport back to his ulti shadow. The delay before he can recall to his ult shadow starts at 4, decreases to 2, then hits 0 at max rank. (This is unaffected by CDR.)

That way he loses the oppressively obnoxious tower-diving tendencies but retains his safety for mid-game and late-game teamfights and duels away from turrets. However, the duration of the damage buff before Death Mark procs is now increased to 4 (5?) seconds, allowing for more bonus damage and making Zhonya's less effective at blocking out the ulti's full damage. If you Zhonya's during the early damage, it wears off and the proc still hits you; if you hold off on Zhonya's to block the mark's proc with it, then you're still susceptible to the burst damage beforehand. This makes him less hard-countered by the item, and also encourages more strategy on his part; he might want to bait out the enemy's Zhonya's, then blow his damage combo on them right as it ends, before the mark procs - thus getting his full damage out regardless. This isn't possible currently but would be with these changes to increase the mark duration. http://img4.wikia.nocookie.net/__cb20121107025242/leagueoflegends/images/c/cd/Death_Mark.jpg

Again, no number change; he still maintains his full burst power, but without being able to nonchalantly towerdive whoever he wants. This is similar to the small cooldown between Kassadin's ult casts and Akali's ult casts, preventing them (and now Zed) from making stupidly risky plays just to instantaneously fly back out. Also, CC'ing him under tower when he dives you actually punishes him now because he can't just warp away instantaneously afterwards.

3. His passive no longer works on minions. http://img2.wikia.nocookie.net/__cb20121107025046/leagueoflegends/images/c/c7/Contempt_for_the_Weak.jpg

The result? He maintains his full assassination power as well as his extreme mobility, but isn't able to nonchalantly poke from 1,300 range forever at no cost, and drops his mage-tier waveclear, neither of which made any sense for an AD Melee assassin. Furthermore, pushing the wave against him now functions as some counterplay because he doesn't have a free ez-pz under-tower cs'ing effect from his passive.

Again, I need to stress; he still remains extremely mobile and has all of the same single-target killing potential. Thus retaining his strengths as a relatively safe assassin and as an excellent splitpusher. He also gains more 1v1 dueling power through the increased duration of the death mark's damage buffs. This allows for slightly easier Zhonya's timing, but it also makes Zhonya's not hard-counter him so much because you can't block all of the buffed damage AND the proc - only one or the other. (since Zhonya's won't last almost the entire duration of the mark anymore.)

Thoughts?

EDIT: MAJOR CHANGE. The delay before he can recall to his ult shadow starts at 4, decreases to 2, then hits 0 at max rank. (This is unaffected by CDR.)

That way he loses the oppressively obnoxious tower-diving tendencies but retains his safety for mid-game and late-game teamfights and duels away from turrets.

It's the perfect fix.