It only works against melee and with all the crowd control and Frost Phase, melee will not be a problem.
There weren't points left for Prismatic Rift, but if you play it correctly you won't need it at all. After casting Hailstorm once, you'll spam Prismatic Bolt to wipe your foes. To be honest, you won't even use Hailstorm for AoE damage, you'll just cast Hailstorm for the crowd control it causes stuning and freezing, and for the eletrical damage bonus the hailstorm tier has. Thunder Locus, Fire Storm and Frost Wave are really good AoE damagers, but in this build I choosed Hailstorm. Also, with the recommended pet spells you'll have a small army for yourself and Ice Prison + Hailstorm + Frozen Fate does a great crowd control.
I've read some reports saying that Astral Ally isn't worth (the Ally dies fast and deals few damage at end game) so it was dropped. Also, some people says that the bonuses are not that great because at end game you'll have more than +1000% magical damage. ELITE PRISMATIC BOLT EMBERMAGE GUIDE with wand + shieldĮlemental Boon has a short duration and long cooldown, so it was dropped.