I'm wondering why you put Exploding Palm in that build. Is it so you can kite with that rune?
If this worked with ground effects that would be so wonderful. It does sound like a fun build. I think it's worth experimenting with these little used abilities - Blizz carefully chose and balanced all of these abilities for one reason or another and just because we as players haven't figured out how to make something work doesn't mean there isn't a use for it.
Kite + DoT + 40 Spirit * LSS on single targets, while the Liberty Bell Smash aka Wave of Light would be more for groups. I thought about using Cyclone Strike with the Fear rune instead of Wave of Light but WoL had the crit synergy. Blinding Flash or Breath of Heaven would probably add more survivability, Exploding Palm is wishful thinking :) Come to think of it, Sweeping Wind with Inner Storm would add more Spirit Generation and still uses the crit, so that might work better but then you don't have the slowing capability. It's a work in process :D
Edit: I actually remember why now. I had figured that a heal of 7500 would take 187.5 LSS for 40 points of Spirit spent, which would require 125 LSS on gear. I don't think that's actually attainable but 100 LSS + 62.5 from the mantra would turn Palm into a 6500 heal, and 40 spirit is very recoverable with the proposed build assuming you can get up to around 25% crit while 75 takes an extra round of hits or running around to generate.