That build is interesting.. I have 2 problems with it though:
1. No Bonetti's. Bonetti's has saved my ass so many times against those damnable squids... I love it.
2. Knockdowns. Knockdowns for this are bad. Yes, they take 50 damage, but they aren't hitting you as often which kinda blows.
The Divine Boon version of Jelly's (AMAZING) build is much better IMO. Aataxes are easy either way, but popping on Bonetti's for a few seconds then spamming the hell out of Divine Boon kills those Grasping Darknesses EXTREMELY fast. With 16 smiting prayers they're taking 40 damage every 1/4-1/2 second... 80-160 DPS is a lot better than 50 and a knockdown, plus by the time you need energy they're either dead or bonetti's is ready for a quick tap.
Another note on fighting squids (Grasping Darknesses)... NEVER use Bal's Aura. ALWAYS put Zealot's fire up and cast Blessed Signet before going in. Until they're dead, keep spamming that divine boon. With their energy drain, you'll lose energy anyways. Might as well go towards hurting them. Even when energy is at 1-4, spam DB. Countless times I've been at 20 health and managed to squeak a DB through at the last second. Use bonetti's as often as possible.

I've been testing and Shield can still work with Bonettis. Since Divine Boon is really only 1 time per second you are looking at 40 dps instead of 160. Shield of Judgement has some things going for it:
1. Holy damage penetrates armor. Zealot's only does 1/3 damage on a highly armored character while Shield does full
2. Knockdown = window of opportunity. I don't know how many times my Balthazar's Aura has been interrupted against a mob of 6, and Shield of Judgement can give you the chance to cast 2 of them, which is 500 points of area damage plus the Shield itelf, which would be about 300-400 depending on how fast they attack.
3. Even with Shield on , Bonettis charges up to full bar just fine.
4. Ranged - Shield hurts those annoying ranged attackers just the same as melee, and knocks them down as well.
Some things Divine Boon has going for it:
1. Don't need to spend anything on healing, put it all in Divine Favor
2. 1/4 second cast means I can heal inside a malestrom
3. Once it's in effect, ANYTHING I cast also fully heals me from an almost empty bar. This means shield/Balthazar's/Zealots will all do a full heal when I cast them
I have to say after switching to Bonettis I never have any energy problems. I hadn't considered it for my testing because I didn't have the W secondary, but it only took a few minutes to get switched over.
For pure killing speed, however, I still prefer the 2-man team. Although I can run in front now, freeing up my nuker to cast anything he wants without fear of interruption. All I can say is Spiteful Spirit owns underworld like no other.