I spent some time with a kinetic/psi/psi scrapper today. My testing routine is to do radio missions at +0/x1 with bosses on, upping the team size multiplier by 1 every time I finish a mission without being defeated, while only using basic IOs. On defeat, I increase my level by 5 and continue increasing the team size until I get defeated again, etc. For this particular character, I started the process at level 30, since I had already messed around with the set at lower levels on a brute. This approach isn't perfect, since it partly depends on what's available at any given time on the police scanner, but for what it's worth I maxed out at x5 at level 50, with Arachnos giving me my final defeat(s).
I'm not sure I really "get" the visuals of the first two powers, especially the little circles protecting our knees and elbows specifically from Psionic Shield. It all ended up blending together with my KM attacks into a whirlwind of pink energy at the end, so it didn't bother me once things started to get hectic. Having some alternate visuals available for the resist powers would still be nice. Maybe a simple glow similar to Energy Aura as others have suggested.
Aura of Insanity offers a surprising amount of mitigation, especially since it doesn't turn off when running out of endurance, which ended happening to me a lot until I was nearly fully slotted. Having nearby enemies occasionally attack each other also helped cover for KM's somewhat low damage. There are a lot of toggles, and a lot of clicks that need to be used frequently. I prefer the more active armors, so this isn't a complaint - more of a note that I didn't go into this expecting endurance issues on par with Dark Armor. In retrospect, changing one slot in Devour Psyche from healing to end mod might have saved me some trouble.
Overall, I really dig this armor set. I love Aura of Insanity. I don't know where this set lands compared to others numbers-wise, but it didn't feel either overpowered or underwhelming from the time I put into it. I had a lot of fun with this, so if it were to release in the exact state it's in now, I would definitely recreate my test character on live.