Just to clear some things up:
Storm Armor is a MUST. MUST. MUST!! It has the largest effect on the damage multiplier...representing about 40% of your total damage. Drop it,...and you cut your DPS almost in half.
Diamond Skin is a must also. It is huge when helping you tank....it basically adds an extra 11k life to your pool....and is repeatedly replaced as you are spamming. Thats how we can get away with only 35k life. Running Shell doubles that amount of life, adding 22k - which is nice for when you don't want to die, like in ubers. Diamond shards is also accountable for 10-20% of your overall damage...it also procs alot, helping to refresh all the cooldowns.
Really, Teleport is the only thing that can be reliable replaced without losing DPS from the SNS build.
Evocation and cold-blooded are the passives that you can change. If you drop evocation, you will see a slight dropoff in freezing speeds since the cooldowns aren't reset quite as rapidly. If you're just farming...the effect is tolerable. At higher MP's you'll feel the change more (enemies moving a bit more, throwing off more damage, etc). I drop coldblooded when solo farming in exchange for unstable anomoly - its just too useful to have a extra life when you're in the middle of the map and die. Retracing maps sucks, big time. Its also a staple of your build when doing high MP Ubers. I'll take the lower damage in order to stay alive (cause if you're dead...you're not doing ANY DPS ;-)
And with respect to insane/massive damage, I challenge you do the MP8 Gohm test:http://us.battle.net/d3/en/forum/topic/7004691927
See how many seconds it takes you to kill Gohm on MP8. Divide 70.6M by that number of seconds and that will give you your eDPS. Divide by your paper DPS and that will give you your multiplier. You can then take that multiplier and compare it to anyone else's SNS variation. I pretty much guarantee that you will not beat the SNS multiplier of ~7-8. Just because you do a few big crits doesn't mean you are beating out the massive amount of smaller damage from WW and storm armor. And if you do beat the multiplier, great! But you're likely not keeping the enemies permafrozen, and that will lead to more deaths, especially at higher MP's.
Look, I'm not slamming your efforts at improving the SNS build....alot of people have. And I encourage you to keep trying....and in the end...go with what is most fun for you. The boards are full of people that have tried to make improvements...and largely failed. There are variations that are fun to play, like the meteor variants....and they are pretty similar in overall DPS (or multiplier number). Actually, some of the meteor variants ought to be retested since its easier to cast meteors in 1.07 than ever before.....but if you're casting meteors....then you're not casting WW...and if you don't kill the enemies fast enough then you're freeze will start to wear off...so just be careful.
The best variation to date, to maximize the multiplier, is to:Use Magic Weapon/electrify instead of teleport Use the Deep Freeze rune on Frost Nova, instead of Bone chill
This works amazingly well on large mobs...gaining the 15% CC when freezing 5 enemies jacks up your DPS alot.....and Electrify deals massive damage since you are critting more and each WW is doing exponential amounts of damage since its hitting multiple enemies at the same time. The multiplier drops off as eventually get down to the single elite...but, essentially, massive damage has already been done.