It took me a while to figure this out, too. Its not broken, its been heavily changed. It is now point blank range AND it is no longer target-specific. When you cast it, it will hit ALL mobs adjacent to you, in about a 10 meter radius, going by game distance. A very dangerous spell to use now, and one I am increasingly not using. You will notice the background of the key for it is now blue, and not green like your other AOE spells. Given that range is a wizard's only real defense, I hope they alter this in the very near future; otherwise, it'll be yet another of the many spells I've had to pull from my hotkey bars