Runeglaive is a mistake
for reference:
http://www.surrenderat20.net/2015/06/612-pbe-update.html
Runeglaive is a replacement for Magus, that builds out of Smite + Sheen, and gives:
40 AP 200 Mana +10% Cooldown Reduction UNIQUE Passive - Spellblade: After using an ability, the next basic attack is converted into magic damage and deals 75% Base Attack Damage (+30% of Ability Power) bonus magic damage on hit in an AoE around the target (1.5 second cooldown). When attacking a monster, this also restores 6% of your missing Mana."
Why is this item a bad thing? Well, first off, what was wrong with Magus? Literally the only change that needed to happen was giving magus some sort of mana-sustain in the jungle - its stats were good enough. Runeglaive basically says "yeah, we are going to halve the item's combat stats so you can get some meh jungle sustain". Not to mention how it also makes Lich Bane or IBG both more inefficient purchases afterwords, which are both very nice items for certain AP junglers. Also, for junglers who don't actually AA much at all (looking at Fiddle and Karthus), its simply a bad item, but there's no alternative.
Really the big mistake with Runeglaive is the way it gimps lategame scaling for AP junglers - it has half the combat stats of Magus. I can't think of a single champion who would benefit more from this proc than from the higher damage, single target Lich Bane - the champions who currently buy Lich Bane prioritize high single target damage and the ones who don't probably aren't going to make the best use of a sheen proc in teamfights.
Keep Magus, and just give it an "X% of damage dealt to jungle monsters through abilities is converted to mana"
. Jungle items should never use uniques from normal items.
but also Nashor's Tooth), and provides a unique take on the situation.
AP
AP
AP
AP
AP
AP
(if AP jungle taric is a thing)