Provoke in it's current state is actually quite a good ability to play around. Compared to its previous counterpart where it had completely absurd uptime, it's current uptime of 50% allows for interactive DPS windows for squishier players in your party while also allowing for you, the tank, to do the job under perfect conditions (so long as you dont miss the AoE). In its current state, I would say Provoke is a good ability overall.
Then comes in Strobelight, a Necklace with the Major ID, Taunt. This reduces the cooldown of Provoke by 3 seconds, making Taunt's uptime 8/12 (or 66% with 4 seconds of downtime). While on paper this seems innocent, given the design of a lot of bosses in this game, this uptime becomes extremely irrelevant. 4 seconds is hardly enough time for any current raid boss (that is affected by provoke, anyways) to actually get an attack out, and any attacks that would have the time to come out would most likely only one-shot builds on the glassier end of things. This makes Provoke's actual downtime essentially nonexistent in practice during raid bosses.
Strobelight's Major ID could be reworked in a number of ways to remain as a supportive bonus for Paladins. Perhaps to encourage the use of DPS windows, other players could gain a small damage bonus (say like, 10%) to provoked enemies. If the Cooldown is the only thing the ct thinks it should impact, perhaps it could give provoke both a higher duration AND cooldown to allow for larger DPS windows that just need to be used more strategically.
Overall, Strobelight's Major ID simply nullifies any of the uptime/downtime changes made to provoke, and I would hope to see the major ID change to be something both more unique and interesting rather than a mundane cooldown decrease.