Athene's still isn't a good option at 106% efficiency even without the passive. Too much CDR.
There's nothing wrong with Athene's, it was a fantastic item even before the 2 fairly large buffs it just got. The problem isn't with the item, it's with the cdr cap being 40% and supports reaching that easily with their first 3 items. In many cases a support build will look like this with just 3 items if they choose to build Athene's:
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This means you're wasting hundreds of gold on CDR you can't utilize if you buy any of the other support items. Now that Athene's gives equal or more health regen than it does mana regen, I think it's appropriate to lower it's cooldown to 10% and increase mana or mana regen by an amount that gives it the same efficiency it has now. This would be a small change but would help alleviate the fairly huge over saturation of CDR we have right now.