Mikael's Crucible

This is one of my favourite support items. It's potential to save an ally is huge, and the stats it gives are pretty darn good, too. There's one thing that I don't find too cool about it, though. When you cast it on an ally, it doesn't cast instantly. It sends a little animation that almost looks like an auto attack at them, and once it reaches them, it then activates the heal and CC release. I've noticed that every single time I activate it on an ally who dies before it reaches them, the cooldown is still activated. I'm curious if this is on purpose? I'd understand having a downside to the item considering it is so good. Anyone else use this item often and notice this? Do you think you should be refunded the cooldown if your ally dies before it reaches them?