I like the idea of the warded ping a lot, and I understand the general intent behind this. However, I think it is too much information and it would be in and of itself very distracting. Too many different angles to select when you go to ping. 4 corners is extremely easy to pickup and learn. It's also really fast, and hard to make a mistake with. I think even adding a 5th ping would make it a lot more complicated that it is worth.
Just my opinion though. I do think the discussion is important though so I am up-voting you anyways.

All of this. I think a lot of people blindly look at this proposal and think "Yeah, that's a great idea!" without actually thinking about what it would be like in implementation.
Pings are meant to be a quick communication tool. As the current smart ping tool is set up, you just have to flick the mouse in one of 4 main cardinal directions. It's easy to learn and becomes second nature very quickly. Splitting everything in half to double your options means you actually have to use a degree of precision when you go to ping. Suddenly, it isn't necessarily quick anymore. It'll become more like bringing up a menu and selecting a menu option. Especially the Ult Up In X as shown on the example. People will either have to take slightly extra time to make sure they issue the correct ping, or they'll try to do it by muscle memory, and incorrect pings would happen much more frequently.
Now, I can think of a possible viable alternative to this. We currently do have two buttons for pings. We have the normal ping button that gives you the smart ping menu. There's also the Back-ping button. Something that I could find much more agreeable would be to create a second 4-way smart ping menu for the back-ping button. It could include some of the things suggested (I would still shy away from the Ult Up In X, because I think the sub-menu idea is nowhere near optimal for quick communication).
Alternatively, the back-ping could be replaced with the Danger ping (I view these as fairly interchangeable in terms of what they communicate). Then the Danger ping in the smart ping menu could be replaced with a Warded ping. Of all the proposed new pings, I think that a ward ping would be the most useful. The only disadvantage the ward ping would have, versus typing it in chat, is that you get the timestamps in chat. This lets you actually track how long the ward has left.