Ah, the fun times of playing explosion aatrox with item cooldown and then building divine sword and infinity edge for a golden Aatrox. RIP.
Yes, he's still viable, as a bruiser/frontliner. DIve the carries for fun and profit. Randuin's, guardian angel, and spirit visage enhance him efficiently to make him insanely hard to put down. Remember; you only need attack speed and flat AD to stay alive and continue pissing people off. You don't need crit or armor penetration (ghostblade is still useful for reasons), and three out of your four abilities do magic damage. The fourth you'll only turn on for the quick burst anyway, so black cleaver is out of the picture as well.
Particularly with the removal of all items sources of grevious wounds. If you get fed you can go around oneshotting people for fun, but I wouldn't advise it since he doesn't snowball well and can quickly be turned around on.
BORK, Hydra, BT, zephyr, ionian, and ninja tabi are all useful for a variety of different reasons.
The reason he's not in the meta is because he's very hard to balance damage output vs. damage resistance, and smarter players may just ignore him in favor of other targets if he's too tanky.
He also falls off pretty badly in midgame.