As a tanker-at-heart, you are correct and it's because I also use this guy in general play. I'm no pro farmer, by any means, and if I want max reward I dual-box and drag a Inv/SS tank (Foot Stomp on auto) following behind a Spines/Fire true fire farming broot.
To your point, you could drop the Panacea and Power transfer +HP procs, because the toon doesn't really need it for farming, and add back damage procs to Thunder Strike and Lightning Rod.
Attack rotation is BU:LR:TS:CB:HP:JL:CI to open, then (with Hasten active) it's really a down the line button pushing of CB:HP:JL:CI:TS with LR when available. There's also Ion Judgement, every time it's up on a full mob.