1- When I first met Taric, his passive was manasteal. I believe it was unique in the game because I could stack a ton of Auras (Zekes, WOTA, Aegis, the mana aura one....), as long as I kept harassing (even creeps), I had great sustain, great mana regen, very fast heals for myself and my partner, plus a good amount of extra life steal... Then, when it got into team fights, my damage numbers may not have been too high... but I could make any team SIGNIFICANTLY better! 2- Then his ult got changed to MOAR AURAS!... I buffed AP like a boss, I buffed AD like a boss, life was good! 3- But his passive got changed to manamune... different playstyle, less sustain, but more overall damage... and stacked with the item, he was still a team-work god! ... then the auras started going away. The mana regen item went first... no big deal. Wota lost the aura... that sucked. Zekes harold went away completely, and now Aegis' aura is getting nerfed... But Taric armor aura went up, his ability to strip armor went up... both good... still enjoyable to play, but without all those auras, he just doesn't have the team presence he once had.
Personally, I wish they would bring back aura items. They're not as aggressive or good for "your stats" ... but they had a significant impact on team fights.
Short of that, if I had to change something, I'd drop his latest passive (armor sheen). Ideally, I'd like to see him "Radiate" a percentage of his stats to allies, in say an 1100 radius. Taric could build AD to buff allies AD. He could build AP for better personal heals, but also benefit the mid laner, when team fights start. Would let Taric be able to help his team to adapt to any situation and promote counterplay.
What I'm afraid will happen is: Stun turns into a skill shot, Ult is replaced with a slow or something, Armor aura on shatter goes away, but don't worry, shatter costs less mana now and does more damage! ... but doesn't shred armor anymore. Heal on longer cooldown to balance damage boost.