I already posted a way to nerf the Wand of Elusivness - now, we really can copy dota for this special case, since Dota had the same problem with an exact copy of this item.
Add: Whenever you get struck by a hit/spell etc. wand of elusivness can't be used for the next 3 sec. So its only good for initianting. It's still a very good item. But why shall we remove or nerf every good item so its usless.. would be stupid imo. And it costs 9k for mostly on the teleportation. I'd spend my money for other things more often, than buying this.
And 2.2k for an instant teleport right into a fight is ok. Maybe change it to: 2.2k cost, 900 Mana, 30cd Cooldown, Teleports you to a friendly unit / demigod. With 1-2sec casttime.
It gives a huge movement bonus + its reusable + its not broken, since instant would mean u could just escape every fight if you wish. 2 sec casttime would be fair, so your opponents have a chacne to stun + kill you.
So long, Aspartem 