EDIT: According to Blizz comment from this thread on official forum DeepWounds double dipping has been hotfixed, so these calculations are no longer correct.
I needed a bit more precise info about how Deep Wounds behave, so I've tried to gather data and analyze it. Below you can find the outcome.
Environment:
Data was gathered on Heroic Dummy from the time period of almost 8 minutes on live server. Textual form can be found
here.
No external buffs were present on target, no Battle Shout nor any other buff on me.
Build used: arms (2/2 Trauma, 3/3 Deep Wounds, 3/3 Two-Handed Weapon Specialisation, 2/2 Blood Frenzy, 5/5 Wrecking Crew)
Gear:
Saliva Corroded Pike 169.2dps, 3.6 speed
AP: 2936
Basic data:
base DeepWounds dmg (no buffs, no talents) = 0.48*3.6*(169.2+2936/14) = 654.8 =
DWdmgBase
base DeepWounds tick dmg = 654.8/6 = 109.1 =
DWTdmgBase
Deep Wounds should be theoretically affected by the following buffs: Trauma (*1.3), Wrecking Crew/Enrage (*1.1), Two-Handed Weapon Specialisation (*1.06), Blood Frenzy (*1.02).
Two-Handed Weapon Specialisation is always present, so
DWdmgBase*1.06 = 694.1 =
DWdmg
694.1/6 = 115.7 =
DWTdmg
Analysis:
Case 1
Application of first stack of DeepWounds without any buffs present.
23:06'00.000 Tankietka melee swing hits Heroic Training Dummy for 1826 Physical. (Critical)
23:06'00.797 Tankietka gains Enrage.
23:06'01.188 Heroic Training Dummy is afflicted by Deep Wounds.
23:06'01.188 Heroic Training Dummy is afflicted by Trauma.
23:06'02.110 Heroic Training Dummy suffers 154 Physical damage from Tankietka Deep Wounds.
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Let's assume that all newly gained buffs are affecting DW as soon as it is applied.
115.7*1.3*1.1*1.02 = 168.8
It's too high for a real value (154), so some of these buffs were not counted in.
115.7*1.3*1.02 = 153.4
Due to truncation/rounding of results by both me and in-game 153.4 is good enough to match expected value of 154.
Hypothesis: DW is affected by Trauma generated by the same crit hit but not affected by Enrage from the same source.
Case 2
Application of DeepWounds with Trauma and Enrage already present.
23:06'06.672 Tankietka melee swing hits Heroic Training Dummy for 1981 Physical. (Critical)
23:06'07.110 Heroic Training Dummy suffers 153 Physical damage from Tankietka Deep Wounds.
23:06'07.547 Tankietka's Enrage is refreshed.
23:06'07.547 Tankietka gains Sudden Death.
23:06'08.031 Heroic Training Dummy is afflicted by Deep Wounds.
23:06'08.031 Heroic Training Dummy's Trauma is refreshed.
23:06'09.031 Heroic Training Dummy suffers 186 Physical damage from Tankietka Deep Wounds.
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Please note that DW tick of 153 is the last tick of previous Deep Wound and has no influence on next one.
Let's assume that Enrage will now affect DWdmgBase.
DWdmgEnrage = DWdmg*1.1 = 763.5
DWTdmgEnrage = 763.5/6 = 127.3 (tick value from base damage affected by Enrage)
Applying rest of buffs we have
127.3*1.3*1.02 = 168.8
It's too low for expected value (186). Seems like some buffs must have been used more than once.
Hypothesis: buffs that are "on target" (Trauma, Blood Frenzy) affects only ticks damage, while buffs that are on character (for example Enrage) can affect both base damage and tick damage.
Let's try to use Enrage also on tick damage.
127.3*1.3*1.02*1.1 = 185.7
Close enough to expected value of 186.
Why Two-Handed Weapon Specialistion does not work the same? My assumption is that it's from talent and static so is treated differently than dynamic Enrage buff.
Case 3
Case apparently identical to case 2, but with different final DW tick damage.

23:07'16.797 Tankietka melee swing hits Heroic Training Dummy for 1759 Physical. (Critical)
23:07'17.438 Tankietka gains Enrage.
23:07'17.828 Heroic Training Dummy is afflicted by Deep Wounds.
23:07'17.828 Heroic Training Dummy is afflicted by Trauma.
23:07'18.938 Heroic Training Dummy suffers 153 Physical damage from Tankietka Deep Wounds.
23:07'19.938 Heroic Training Dummy suffers 153 Physical damage from Tankietka Deep Wounds.
23:07'20.953 Heroic Training Dummy suffers 154 Physical damage from Tankietka Deep Wounds.
23:07'22.063 Heroic Training Dummy suffers 153 Physical damage from Tankietka Deep Wounds.
23:07'22.860 Heroic Training Dummy suffers 153 Physical damage from Tankietka Deep Wounds.
23:07'23.469 Tankietka melee swing hits Heroic Training Dummy for 1787 Physical. (Critical)
23:07'24.078 Tankietka's Enrage is refreshed.
23:07'24.078 Heroic Training Dummy suffers 153 Physical damage from Tankietka Deep Wounds.
23:07'24.266 Heroic Training Dummy is afflicted by Deep Wounds.
23:07'24.266 Heroic Training Dummy's Trauma is refreshed.
23:07'25.469 Heroic Training Dummy suffers 213 Physical damage from Tankietka Deep Wounds.
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Last tick of 153 should not count in next DW damage (same as in case 2), so why final tick is higher than in case 2? I was puzzled very long until I tried to carry on last 153 tick to next DW even though it already "ticked".
But how it is carried on, is it added to base damage or to final tick? After several trials it seems that remaining damage value is added to final tick, but is not getting again all tick buffs (that would be too overpowered).
This is tick value without carry:
127.3*1.3*1.02*1.1 = 185.7
remaining damage: 153
remaining damage per tick: 153/6 = 25.5
25.5 + 185.7 = 211.2
Seems close, but not close enough. At this moment I realized that 153 tick is the one without Enrage, which wasn't present at the time of application of previous DW. So maybe now it should be added?
25.5*1.1 + 185.7 = 213.7
Now it's close enough.
Hypothesis: sometimes one tick of DW is carried on to next DW even if it already did it's damage. When this happens remaining damage is added to final tick value, without doubling buffs like Trauma or Blood Frenzy but if wasn't affected by Enrage it is now added.
Case 4
New DeepWounds over still ticking old one.
23:07'56.563 Heroic Training Dummy suffers 427 Physical damage from Tankietka Deep Wounds.
23:07'56.969 Tankietka melee swing hits Heroic Training Dummy for 1747 Physical. (Critical)
23:07'57.563 Heroic Training Dummy suffers 427 Physical damage from Tankietka Deep Wounds.
23:07'57.563 Tankietka's Enrage is refreshed.
23:07'57.781 Heroic Training Dummy's Deep Wounds is refreshed.
23:07'57.781 Heroic Training Dummy's Trauma is refreshed.
23:07'58.766 Heroic Training Dummy suffers 400 Physical damage from Tankietka Deep Wounds.
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Basing on case 3, we get
remaining damage: 3*427 = 1281
remaining damage per tick: 1281/6 = 213.5
Tick value without carry:
127.3*1.3*1.02*1.1 = 185.7
Final tick:
213.5 + 185.7 = 399.2
Close enough to expected 400. Please note that additional tick damage from remaining damage did not get Enrage buff this time as it already has it.
Case 5
Four crits in a row, without DeepWounds tick in between - with old DW still ticking.

23:12'05.203 Heroic Training Dummy suffers 154 Physical damage from Tankietka Deep Wounds.
23:12'05.406 Tankietka Slam hits Heroic Training Dummy for 2304 Physical. (Critical)
23:12'05.875 Tankietka's Enrage is refreshed.
23:12'05.875 Tankietka gains Taste for Blood.
23:12'06.016 Heroic Training Dummy suffers 153 Physical damage from Tankietka Deep Wounds.
23:12'06.156 Tankietka melee swing hits Heroic Training Dummy for 1985 Physical. (Critical)
23:12'06.313 Heroic Training Dummy's Deep Wounds is refreshed.
23:12'06.313 Heroic Training Dummy's Trauma is refreshed.
23:12'06.719 Tankietka's Enrage is refreshed.
23:12'07.110 Heroic Training Dummy's Deep Wounds is refreshed.
23:12'07.110 Heroic Training Dummy's Trauma is refreshed.
23:12'07.110 Tankietka Slam hits Heroic Training Dummy for 2615 Physical. (Critical)
23:12'07.578 Tankietka's Enrage is refreshed.
23:12'08.031 Heroic Training Dummy's Deep Wounds is refreshed.
23:12'08.031 Heroic Training Dummy's Trauma is refreshed.
23:12'08.031 Tankietka Overpower hits Heroic Training Dummy for 2026 Physical. (Critical)
23:12'08.235 Tankietka's Enrage is refreshed.
23:12'08.719 Heroic Training Dummy's Deep Wounds is refreshed.
23:12'08.719 Heroic Training Dummy's Trauma is refreshed.
23:12'09.235 Tankietka gains Taste for Blood.
23:12'09.641 Heroic Training Dummy suffers 855 Physical damage from Tankietka Deep Wounds.
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Similar calculations as in previous cases for each crit. All DW damage from each crit is carried to DW generated by next crit. Also we have another case of damage that already ticked being carried over.
First crit:
remaining damage = 4*153 = 612
remaining damage per tick: 612/6 = 102
final tick: 102*1.1 + 185.7 = 297.9
Second crit:
remaining damage per tick: 297.9 (all ticks from first crit are carried)
final tick: 297.9 + 185.7 = 483.6
Third crit:
remaining damage per tick: 483.6 (all ticks from second crit are carried)
final tick: 483.6 + 185.7 = 669.3
Fourth crit:
remaining damage per tick: 669.3 (all ticks from third crit are carried)
final tick: 669.3 + 185.7 = 855
Case 6
Three crits in a row. No old DW ticking.
23:11'23.266 Tankietka Overpower hits Heroic Training Dummy for 2097 Physical. (Critical)
23:11'23.672 Tankietka's Enrage is refreshed.
23:11'23.672 Tankietka gains Sudden Death.
23:11'23.688 Tankietka melee swing hits Heroic Training Dummy for 1765 Physical. (Critical)
23:11'25.750 Heroic Training Dummy is afflicted by Deep Wounds.
23:11'25.750 Heroic Training Dummy's Trauma is refreshed.
23:11'25.750 Tankietka Execute hits Heroic Training Dummy for 8828 Physical. (Critical)
23:11'26.188 Tankietka's Enrage is refreshed.
23:11'26.188 Tankietka's Enrage is refreshed.
23:11'26.594 Heroic Training Dummy's Deep Wounds is refreshed.
23:11'26.594 Heroic Training Dummy's Trauma is refreshed.
23:11'26.594 Heroic Training Dummy's Deep Wounds is refreshed.
23:11'26.594 Heroic Training Dummy's Trauma is refreshed.
23:11'26.985 Tankietka melee swing hits Heroic Training Dummy for 895 Physical.
23:11'27.578 Heroic Training Dummy suffers 371 Physical damage from Tankietka Deep Wounds.
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Calculations as in case 5.
First crit:
final tick: 185.7 (base enraged DW value)
Second crit:
remaining damage per tick: 185.7 (all ticks from first crit are carried)
final tick: 185.7 + 185.7 = 371.4
We got expected tick value after second crit already. Why? Only explanation I have is because third crit was from Execute.
EDIT: As stated in this comment Execute crits generate normal DW, so behaviour from this case is currently without explanation.
Hypothesis: Execute crits proc minimal (close to 0) DeepWounds on live.
Case 7
Two crits in a row, but only one DeepWound.
23:12'09.641 Heroic Training Dummy suffers 855 Physical damage from Tankietka Deep Wounds.
23:12'10.547 Tankietka melee swing hits Heroic Training Dummy for 1742 Physical. (Critical)
23:12'10.750 Tankietka Overpower hits Heroic Training Dummy for 2112 Physical. (Critical)
23:12'10.750 Heroic Training Dummy suffers 855 Physical damage from Tankietka Deep Wounds.
23:12'11.141 Tankietka's Enrage is refreshed.
23:12'11.141 Tankietka's Enrage is refreshed.
23:12'11.141 Heroic Training Dummy's Deep Wounds is refreshed.
23:12'11.141 Heroic Training Dummy's Trauma is refreshed.
23:12'12.235 Heroic Training Dummy suffers 755 Physical damage from Tankietka Deep Wounds.
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You can notice that there is only one "Deep Wounds is refreshed" info. Calculations also result in final tick value of 940.8 after two crits and 755 if only one is counted.
Hypothesis: if two crits happen at around same time, one of them can be "overlooked" in DeepWounds generation.
Hypothesis summary:
1. DeepWounds is affected by Trauma generated by the same crit hit but not affected by Enrage from the same source.
2. Buffs that are "on target" (Trauma, Blood Frenzy) affects only ticks damage, while buffs that are on character (for example Enrage) can affect both base and tick damage.
3. Sometimes last tick of DeepWounds is carried on to next DW even if it did it's damage. When this happens remaining damage is added to final tick value without doubling buffs like Trauma or Blood Frenzy but if it wasn't affected by Enrage it is now added.
4. Execute crits proc minimal (close to 0) DeepWounds on live. EDIT: as stated in
this comment Execute crits generate normal DW, so behaviour from case 6 is currently without explanation.
5. If two crits happen at around same time, one of them can be "overlooked" in DeepWounds generation.
Formulas:
DWTdmgBase = 0.48*(wdps+ap/14)*wspeed/6 (no buffs nor talents)
DWTdmg = DWTdmgBase*1.06 (Two-Handed Weapon Specialisation)
1. No Enrage buff when applying DeepWounds
tick damage =
DWTdmg*1.3*1.02
2. Enrage buff present when applying DeepWounds
tick damage =
DWTdmg*1.3*1.02*1.1*1.1 (double Enrage buff)
3. Carrying over remaining damage from previous DeepWounds
rDmg = remaining damage
a) tick damage =
rDmg*1.1/6 + DWTdmg*1.3*1.02*1.1*1.1 if previous DeepWounds did not have Enrage included
b) tick damage =
rDmg/6 + DWTdmg*1.3*1.02*1.1*1.1 in other cases
Final thoughts:
First of all would be nice if someone checked the above for errors :-).
Seems like Blizzard's code around DeepWounds has problems with synchronisation and/or bugs, which isn't something new or suprising.
In log with data there are also cases with [Mirror of Truth] proccing, I did not included them here as calculations are the same. The only change is higher ap in base DeepWounds damage.
Also, I did the above calculations for every DeepWounds from mentioned log. In all cases I got expected results, however it is always possible I've made some mistake which I did not notice - feel free to check.
Would be nice if someone used the above findings for Fury warrior case - to check whether DeathWish buff is similarily as Arms' Enrage used twice in calculating final DeepWounds damage. If that's the case I think we could assume that all similar buffs behave the same.
EDIT: Interesting case to check would be Arms and Fury warrior on the same target and Trauma falling off in the middle of Fury warrior's DeepWounds. That would give the answer whether Trauma is indeed calculated individually for each tick.