So I took Bink's advice and made a new thread about trying to use ([Shadow] Effective Damage per Cooldown) for elemental shamans. I understand what he said about it not really working, but it kind of brings up the point that there are ranges where the value of haste starts to decline in certain ranges because if your rotation causes a delay in casting LvB it can result in a dps loss and if you wait for the CD then you haven't really gained any dps from the haste. So I was just wondering if there were any other thoughts on this method, or any thought about a declining value of haste in certain ranges.

Note: I'm not saying that haste becomes bad, just thinking that the EP value starts getting lower in certain ranges.

This is incorrect.
I figured out how to account for those dips in the decision logic by taking into account the fact that a rotation longer than 18 second would see a dps decrease after that points because the FS Dot had dropped off. Once I put that adjustment in place, everything fell into place. See: this spreadsheet (finished this ~12th August)