So, stick this on a X/A character. He gets 7 skills disabled for 10 seconds, at the expense of his target losing 7 enchants. Spellbreaker doesn't stop it. Same energy and recharge as Rend Enchantments, fast activation, no health loss. The only problem I see with it is the fact that it's a touch skill.
There has to be something wrong on the Wiki page...
30 second recharge and touching pretty much covers the "why it's not overpowered". You don't need to put it on a caster, it doesn't really matter if you remove 7 or 3 enchantments, because 3-4 is about maximum they'll have on them probably anyway.