While it may be worth waiting for a more detailed Dev Diary on the class before drawing conclusions, the new three-paragraph blurb on the Lore-master revamp (posted in Helms Deep pre-order info, scroll down on this page: https://www.lotro.com/en/content/revitalize-your-role ) already allows a handful of conclusions be drawn.
Predictably, Lightning Storm is now gated behind MoNF - not surprising.
Inner Flame (gated behind KoA) remains the channeled self-and-pet heal that it has been - quite strange it survived the skill pruning at all, being among the least-convenient skills to use. And it's still channeled. Well, now that the debuffs seem to be specific to AM (only 'seem' based on limited info so far available, and I hope I'm wrong), and most damage skills specific to MoNF, maybe there really isn't much else for a KoA-spec LM to do in a fight than stand locked in place for 17ish seconds waving arms Instead of transferring threat, it now builds a fire damage buff. A lot of good that would do in a KoA line.
Fire-Lore will now reduce a mob's physical mitigation - wonder if this is a trait spec bonus or whether this will be the updated default skill replacing the incoming damage debuff. If the latter, that would be abysmal.
I am no longer as optimistic about the upcoming class changes as I was in the wake of the dev twitter chat. In trying to shelf an advanced support class into 3 painstakingly specific compartments, of which only one can be active at a time, the entire forest is missed for the trees. It's been said the revamp is about "choices". Yet, apparently, forgetting that the real choices are made by the player, in combat, when selecting which skills to use when from the fully available and vast arsenal. That, to me, is the whole fun and challenge in playing LM. And that is also the reason I have only one full-time active character - the versatility of the class has been what's kept me playing. Still hoping like an optimistic fool that the LM class devs kept that versatility in mind for the revamp and there's more subtleties there than the one-size-fit-all roughshod pigeonhole pattern the skill trees sound like so far.