Well, we don't actually have any testing on the proc rate for DMC, so its hard to say anything definitive; however, assuming its 1 PPM (which seems plausible) it's uninteresting for Mutilate but pretty good for Combat.
On a related note, I sort of disagree with the trinket EP values a couple posts back in this thread. I wrote a small program using ShadowCraft as the backend to compare trinkets for Assassination and Combat at specific near-BIS gear sets, and came up with the following trinket EP values:
Assassination
heroic_prestors_talisman_of_machination: 1426.24849878
fluid_death: 1387.76296847
heroic_essence_of_the_cyclone: 1311.52713267
prestors_talisman_of_machination: 1262.14909046
heroic_tias_grace: 1249.02648025
heroic_key_to_the_endless_chamber: 1206.90078548
darkmoon_card_hurricane: 1180.97130948
essence_of_the_cyclone: 1159.72233447
heroic_left_eye_of_rajh: 1158.19274338
unsolvable_riddle: 1098.30860438
unheeded_warning: 1010.0863035
Combat
heroic_prestors_talisman_of_machination: 1587.470001
fluid_death: 1482.21812325
prestors_talisman_of_machination: 1406.71748082
darkmoon_card_hurricane: 1373.47963511
heroic_essence_of_the_cyclone: 1358.27045555
heroic_left_eye_of_rajh: 1298.41614865
heroic_key_to_the_endless_chamber: 1295.70939023
heroic_tias_grace: 1244.2592468
essence_of_the_cyclone: 1201.11519623
unheeded_warning: 1198.2000663
unsolvable_riddle: 1084.97730932
Note that Tia's Grace and Fluid Death may underperform their theoretical value on interrupted fights.
Also note that these are for a particular gear set at near BIS values; answers will be slightly different if you check at a different gear level or different assumptions. So while values above have 15 digits of precision, they're probably only accurate to 2 or 3 places, and - depending on how different your gear is from the set I used to generate the numbers - possibly not even that. However, it does provide a decent general picture of which trinkets are good and not.