My 2¢ on Karma (W and E Specifically)
W: Focused Resolve
On Ally Cast: Karma tethers herself to a target ally. The tether stores a percentage of the damage dealt to enemy champions or monsters by both Karma and her linked ally. When the tether expires or breaks, Karma and that ally are each healed for half the stored damage.
_Mantra - Renewal: While tethered, Karma and her ally will immediately heal for an enhanced percentage of the damage either one deals to enemy champions or monsters. _
The "restore mana and cooldowns" thing just sounds like a headache to balance, and even if it wasn't, I think you should save that for a Zilean rework.
Which can't come soon enough, because Zilean might actually be one of the most frustrating champions to play against when someone on his team is ahead (not even necessarily Zilean himself!).
/-/-/
E: Inspire
Mantra - Defiance: Inspire's shield is enhanced. Casting Inner Flame while the cursor is over the unit with the enhanced shield will detonate Inner Flame around the shielded unit instantly, dealing its normal damage and slow as well as restoring X% of Karma's maximum Mana for each unit killed.
If Karma shields herself with Inspire and detonates Inner Flame on herself, Defiance will also refund [60% of Inner Fire and Inspire's combined Mana costs] if at least one enemy champion or monster is damaged.
It's the shield bomb, but different by utilizing her Q. Also has a mana restore mechanic to help battle-mage Karma, both because it's a two-ability deal and because battle mages tend to have mana restores somewhere (see: Swain).
Also rewards getting in for the bomb attack as solo lane Karma by refunding a large chunk of the combined cost.
/-/-/
Late night random thoughts on a champion I've never played much of any incarnation based solely on reading a few threads about her, don't mind me.