No longer provides CDR
Your activated abilities reduce the cooldown of your other skills by .25 seconds (+x% of CDR)
This isn't a good idea, have you even thought about the main abuse case?
Ezreal already gets a 1.5 sec reduction on his Q and he does have other CDR itemisation options, I imagine if this change were to be implemented he'd start building semi-crit or Black Cleaver. In a stacked case where Ez gets 45% CDR and has this item his Q drops down to a 0.725 second CD, before the bonus %CDR.
There's also other abuse cases, any champ with a super short CD ability will get disproportionate benefits, take Yas for example. His Q is on a 1.4 sec CD late game and his E has an insignificant CD, by spamming his E he could potentially get his Q up 2 times a second. Or Kindred, who's jump is a 2 sec CD in her zone. These abilities also cause other abilities to reset quicker because of their spamability, I'm fairly sure Yas would be able to have 2 windwalls up for a split second with this item.
You've got to think of abuse cases, and this item has a lot, to list them out there's
. Basically any champ who already has CD reduction or who has a super spammy spell has the potential to get out of hand with flat CDR.