Not bad but you only need one ToW for the whole raid so you can spend that point elsewhere. I'm guessing you know that, just making sure.

As for Elemental Shields, unless your running 10 mans without a tank, I think you could spend these points somewhere else but your only other real options are Elemental Mastery and Unrelenting Storm. Again, assuming you have a tank, I'd put one point in Elemental Mastery and then the other would just be preference between Elemental Shields and Unrelenting Storm assuming no mana issues.

As for Lava Flows, I think you may be correct and this is something huge you are giving up since generally your Lava Burst will be critting every time you cast it since you will have Flame Shock up. On the guys without ToW though you could use that one point in Lava Flows and then only have to drop 2% crit to pick up the other two points. Only time will tell though if 1% crit across the board will be less than or greater than 6% additional crit damage on one spell.

Elemental Weapons may be another issue like Lava Flows. At level 80, Flametongue Weapon gives 211 spell damage so each point in the talent would give an additional ~21 spell damage leading to the same question as above, is 1% crit across the board less than or greater than 21 spell damage across the board. I'm thinking crit wins out here but I'm not so sure with Lava Flows.

Edit: Looked at it a little more and with all the fluff it takes to get the 5% crit in the Resto tree, you could clear all points in that tree, pick up an additional ~63 spell damage from Elemental Weapons, an additonal 24% crit damage to Lava Burst from Lava Flows, an additional free crit every 3 minutes from Elemental Mastery, an additional 50% damage on your Flame Shock ticks from Storm, Earth and Fire, and the increased damage from the ability to cast Chain Lightning more often due to the reduced cooldown from Storm, Earth and Fire. In additon, Lava Flows give you an additional 15 yard range on your Flame Shock. If you don't have that, Elemental Reach becomes pointless in my opinion. And with all that said, you would still have 8 points left over.

In my opinion, that 5% crit in Resto just cost too much as well as screws up your dps rotation unless your going to fight in close to get Flame Shock up. Granted Flame Shock isn't all that great on its own but remember Lava Burst is a guaranteed crit with Flame Shock up.