Whenever possible, evaluate trinkets using the same metric you would any other item. Compute the average uptime of the proc or use effect to obtain an average stat value. WrathCalcs now gives good estimates of most trinkets.
The best two trinkets at the tier 11 level are [Heart of Ignacious] and [Theralion's Mirror]. [Bell of Enraging Resonance] and [Witching Hourglass] are also good.
Note that WrathCalcs will occasionally overvalue some trinkets with haste procs (such as [Witching Hourglass]), if you happen to be be near a DoT breakpoint. This is something that needs to be addressed in a later version. For now, just be suspicious if it tells you that [Witching Hourglass] is much better than epic trinkets.
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I think this needs two adjustments:
First off the JC rare trinket is definitely worth mentioning. Even in full BiS gear, the spreadsheet shows it as superior than Witching Hourglass and most 359 trinkets. At lower gear levels it's even better than that.
Secondly, WrathCalcs doesn't seem to include the Darkmoon Card: Volcano yet and my own calculations show it as comparable or even superior to 372 Theralion's Mirror.
EDIT: I've checked WrathCalcs again. It does include DC:V but with a 12/60 uptime which is way below its actual uptime. The proc DPS is also way too low.
In my own spreadsheet (which is way too messy to be released) DC:Volcano is by far the strongest Moonkin trinket right now with the JC rare trinket as second for low gear levels and the heart of ignacious as second for high gear levels. Here's some quick napkin maths on DC:Volcano:
Assumption: 1 cast every 1.7 seconds on average
DC:Volcano
Passive(Reforged): 128.4 Haste, 192.6 Mastery
Proc: 1200 (shows as ~2000 for my druid actually and is increased by debuffs) instant damage and 1600 Int for 12 sec with 45 sec ICD (according to wowhead comments but also confirmed myself) and 35% proc chance
Proc average: 1600*12/(45+1/0.35*1.7)=~385.1 Int and a minimum of 2000/(45+1/0.35*1.7)=~40.11 DPS
Total: 385.1 Int, 192.6 Mastery, 128.4 Haste, 40.11 DPS
Theralion's Mirror (372)
Passive: 363 Int
Proc: 2178 mastery for 20 sec with 100 sec ICD and 10% proc chance
Proc average: 2178*20/(100+1/0.1*1.7)=~372.3 mastery
Total: 363 Int, 372.3 Mastery
In a table form:
| | Volcano | Mirror | Difference |
| Int | 385.1 | 363 | -22.1 |
| Mastery | 192.6 | 372.3 | +179.7 |
| Haste | 128.4 | 0 | -128.4 |
| Proc DPS | 40.11 | 0 | -40.11 |
With current stat values, 22.1 Int and 128.4 Haste are easily better than 179.7 Mastery, and that's not even including that DC:Volcano has an additional minimum of 40.11 proc DPS.
And if you include that actual uptime of both trinkets will be higher than their average on any fight (because they can proc instantly), DC:Volcano becomes even better because more average Int is way more better than more average Mastery.
If you find any errors in my calculations, please correct me. I've purposefully not included any speculation about when exactly Theralion's Mirror procs. Its low 10% proc chance makes it impossible to adjust your rotation to its ICD or purposefully proc it at a specific point of time without losing way more DPS by messing up your rotation than you'd gain by the better used proc so the average benefit is going to be close to real world benefit. This is also not including the absolute ~5k mana you get from the passive Int of Theralion's Mirror but you can easily more than double that mana benefit by using Innervate on youself once DC:Volcano procs if you really need the mana.
And just by the way, Rawr seems to overvalue all items with a mana benefit even when it shows you as never going OOM. I wouldn't take its suggestions very seriously right now.