Depending how you are spec'd.
Lavaburst is an 8 second cooldown.
Flame Shock is a base 6 second cooldown, but can be talented to (-1/-2 or /-.2/-.4/-.6/-.8/-1.0) seconds.
I wouldn't really go with reset=target on either, either, but when I was testing my own click the reset=target almost never causes the click to stick with a four second cooldown and always having a Flame Shock on any target when the Lava Burst fires off is a bonus.
Since you have the GCD anyway (from the last cast), with Booming Echoes you're looking at up to 2.5 second of the click being stuck (if you use reset=target) vs two casts of Lava Burst which are not guaranteed criticals. The reset=target is a tougher choice for the Flame Shock then the Lava Burst which will lock the click for 8 seconds on a target switch.
The Shammy click I'm using is (I spam at 2 clicks per second):
/Cast Elemental Mastery
/Click MultiBarBottomRightButton7
/Click MultiBarBottomRightButton8
/Click MultiBarBottomRightButton9
/Click MultiBarBottomRightButton10
/use 13
/use 14
Shaman 1 (Flame Shock - 18 sec)
#show Flame Shock
/castsequence reset=combat Flame Shock,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,
Shaman 2 (Lava Burst - 8 sec Cooldown)
#show Lava Burst
/castsequence reset=combat Lava Burst,,,,,,,,,,,,,,,
Shaman 3 (Chain Lighting - 6 Sec (3.5 Talented).)
#show Chain Lightning
/castsequence reset=combat Chain Lightning,,,,,,
Shaman 4 (Lightning Bolt fall-through)
#show Lightning Bolt
/cast Lightning Bolt
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