Here are my thoughts as an avid AP Kog player in high Gold (even before the indirect buff via Luden's):
He's strong late game but teams need to take objectives/turrets when Kog is basically useless (first 20 min, pre-11 and Luden's) and they should secure a good advantage. You have to be decisive vs a late game scaling champ. like Vayne, Poppy and Kog'Maw. You should even try barons if Kog dies and your team can handle the pressure. Don't get cocky and stall out the game like I see so many teams do.
You should definitely not panic and go for risky kill trades (which will almost always favor the late game champ). AP Kog's winrate even in Diamond is only 50%. His ADC counterpart actually performs better there. He is quite a situational pick in high ELOs and hasn't been seen in the LCK this year yet. Even in the other regions, you see one in a blue moon when the comp. is perfect for it. You just need to know how to adapt to him. It's a different way of playing.
For example, teams CLUMP vs AP Kog and often don't flank or split push. AP Kog isn't very mobile, if you have good flanks with Righteous Glory (assuming you clear vision) or a strong split push like Zed + Yi/Tryndamere, AP Kog's teamfight prowess will be largely wasted. His rotations are quite slow and he needs vision setup + Blue to be really effective. Moreover, he's vulnerable to assassins like Talon, LB or Katarina and can't match their roams either. Finally, I often see teams fail to buy Locket or itemize MR vs Kog's AoE. With those things done, he's not so scary.
It's also important to note that Kog's ult. ramps up in mana cost very quicky. Stealing his Blue will gimp him pretty hard. I feel 2x as strong with Blue as a Kog'Maw. Likewise, try to avoid teamfights if Kog got Blue (or at least make sure he dies quickly). Similarly, if you've seen Kog poke 3-4 times (assuming your team isn't too low from it), that's usually a GREAT time to engage. Kog needs time for his mana cost on the ultimate to reset. If you engage after he's used 4 already, he'll run out of mana very quickly. Many teams get intimidated by the early poke and don't engage. Then Kog just resets his mana cost on the ultimate. After the the next round, his team can actually engage because the window is closed and the poke has done its job at this point. There's nothing worse than afking mid with 5 members vs a poke comp.. Split-pushing, flanking and literally almost anything else is a better idea.
BTW: Kog really punishes other mages with low mobility or just bad compositions in general. Try to save your mid pick for last. I've even seen teams pick comps. that are wholly and utterly unviable vs poke. They had no assassins and no hard-engage, literally just random champions picked with no thought. Poke champions can punish this especially hard.