I do believe that is the fastest route Greythan. I can wrap the zone in 18-25 minutes following that path, and it does skip most of the trolls/undead hulky things.

3 snakes x3
boss
3 snakes x2
2 trolls
Elementals and such before Collusus
Collusus Boss
Swim over to moorabi's area
3 trolls
Moorabi
AE the trash before Eck (3 groups of 3)
swim back to middle portion from Moorabi's area
then you've jsut got the rhino guards

(erm... looks like exactly what you just typed up)

Anyways - just to confirm.. that's the quick way to do it that I've found and its a nice run for 5 emblems while you need them. In current gear I find myself skipping bloodlust on one of the middle bosses (moorabi or Eck) because I am still sated from previous boss.