Fast updates on this one...The full thread is here.
Code has found and fixed the issue. DoT Shielding was only working if you cast a spell on yourself or in a PvP situation. After the fix, DoT shielding will properly work on any spell NOT cast on you by yourself and will continue to work in PvP.
Rashere, EQ Lead Designer
SOE was not clear it is already fixed in the game or if it will go out in the next patch.