I do like the idea of manamune on him, but I don't think it would be practical in a summoner's rift game.
However. In an ARAM game, I think you could make it work if your team needs the damage. Titanic Hydra might actually out-damage it (especially before fully stacking it), but the price difference might be worth it. That, along with the help with mana early on to spam your Q, W, and E (which will be very strong in ARAM), might make the build viable.
I think his "Top" build will be:
(Wow, never saw that coming, kappa) into items like
. I don't think that Warmog's would really be that useful on him. He has plenty of healing in his kit and with masteries on top of spirit visage, and I think there are better items for him to have for combat.
In ARAM, I am very ready to try out a Taric build similar to the one you described if my team was pressed for damage. I think I still would opt out of Warmog's over other items and build it situationally as Sunfire would bolster Taric's damage much more; or if I wanted to build more defensively/supportively Face of the Mountain, Aegis, Randuin's and other items would take priority over Warmog's as well.
The ARAM build would likely start with a
and
or
. You would rush a Bami's Cinder and work toward IBG in an evenly distributed damage comp (enemy side) or you would get a Spectre's Cowl or Aegis against heavy magic damage and against an all AD comp you can pretty much just rush IBG immediately.
You would likely want to finish up Manamune as a 3rd or 4th item unless you are snowballing as the damage you would get from finishing Sunfire and IBG would initially be more than finishing Manamune early. The item is really only going to be good once it is fully stacked when you can proc it 2x in quick succession and keep doing that by cycling your abilities giving you good burst and sustained damage.
Anyway. I like it. I'll have to see how it plays. I don't think it would be worth it in Summoner's Rift, but it might be worth trying. I just think there are better builds for him in a Top lane scenario.