Hi, I have been a Veigar main for just over 4 years now and had to stop in to read the idea. Personally right now I feel Veigar is actually in a good spot. With the slight tweaks they made to his E after the rework they have given him the ability to be useful with the stun again. Blocking dash abilities or displacement abilities from moving through the stun was huge. The big thing that happened though is that his skill level went through the roof.
I think the idea is neat, and if I am reading it right, a tad too powerful. The reason his E was gutted was not due to its range, but instead because it was an instant stun that was unavoidable if you knew how to land the edge. With your proposed version it would not be strong at distance, but would be very powerful close and mid range. It would end up putting the main issue of no counterplay early game back into the equation.
The way they want his E to work presently is to make it feel more like a cage. They gave it a very small extra bit of range but has the delay so that people can react to it.
So imagine if you will, you are with your team around lvl 13. Your team is ready to pounce but there just is not an opening for it. You notice a couple of the frontline stepping a tad too close and throw stun. Lets say that you didn't land stun, but they are both inside the stun circle. Now your team pounces. The enemy has 2 decisions. Try to maneuver around the stun and help save the trapped comrades, or walk away because they are about to get blown up. Now they could just flash, but that is a huge win considering your stun at max rank with max cdr is under 9 sec CD and flash is MUCH more than that. Flash or die scenarios are always the best XD.
His stun creates situations in which your team can engage in, while still having a chance at landing the stun and deleting someone. So I personally feel that Veigar is in a very comfortable spot. I did enjoy reading the idea though. It is always nice to see people actively trying to find different ways to work a champion. Hope my explanation was not too long for you.