After giving some thought on the new abilities, here's what I think: Monstrous Regeneration: Cool? I guess.
Oblivious to Sorcery: Matchup dependent but you'll be thankful you have it against spell doms, especially in this prevailing meta.
Command Trait: It takes the sting off the loss of Loonskin, as does the +1 to regen. You get half of what it was offering, but isn't on a timer at least. A fair tradeoff for the new rules.
Artifact: At first glance it's junk, however, it is something the Troggboss needed, or potentially better, the Trogg Hag. Assuming you're taking the battalion, it's fine and I'll likely take it. That way both your big trogg heroes can have ward saves of some kind. Does mean I need to reconsider Moonface Mommet. It's easy to overlook a 5+ against just mortals, but really not that many units actually get that, and in a world of mortal wound spam, I think it's worth a look.
Loonshrine: this is great; at minimum, you're statistically getting 200 or so points back a game (example being 2 units of 3 Fellwaters, each returning 2) or a lot more if used for big units. Of course, it's on a 4+ so sometimes it might not happen, but at the same time it might happen every time. This is quite a powerful ability when it goes off, especially in the late game when 3+ Rockguts come back when you need them. It does mean you can take bigger risks.
Battalion: this allows us to feasibly aim for an easy 4 drop (mine is 5 drop) which nets a decent chance at dictating the first turn. Obviously, you can push this lower but I wouldn't. Retreat and charge is a rule that wins games, straight up. The ability to not get bogged down and slingshot over to objectives shouldn't be ignored, as a lot of ground can be covered quickly over 2 turns. 160 is a fair price for such a good ability.
Overall, this is a straight buff; the only thing we're really losing is Loonskin, and as I said, the new traits mitigate this somewhat. Now, this isn't suddenly a competitive army, however there is room to net some wins against the current meta, and a good Trogg player can win often enough anyway. Does it bump them up a whole tier? Probably not, but it does move them up in regards to other armies of equal tier, at least, from my own analysis.