(Pre)review by request. WALLZ OF TEXTZ!!!!!!
Before anything else, I'd like to talk about motion. In Warcraft, motion is rare on anything other than missile-alike abilities. However, there's one perfect example which also is a counterpart and I believe the inspiration for this icon, which is the Human Invisibility.
Now, the human Invis icon has nearly same opacity values for all three sprites of your icon, but yet, it looks like it's moving while your icon doesn't radiate any movement. Why? The Human Invis icon features one thing your icon doesn't: lack of detail. Yes, I've said it right, the only thing that makes the HI (from now on to shorten up) full of motion, is lack of details. This icon is too crowded in colors that blend in with each other a little too much, since there's no visually strong outline, other than the thick black line in between the images.
If we take a look at your icon, and focus on the red helmet for a second, we'll notice two things: first thing is that it covers up nearly half the icon (featured in all three sprites), and the second one is that that the helmets blend in too much with each other, nullifying motion and replacing it with dazing blur. In order to fix the first issue, which is the helmet covering up the entire icon, I'd suggest either a different view angle (perspective, not quite too much to the side like the original Mirror Image, but something in the between this one and that one), which is the longer way but would yield better results, or to apply dramatic shading. Dramatic shading will also fix up the second issue of helmets blending in.
However, it's not as easy as it sounds: it's more than going crazy on adding light and shadows (which, by the way, lack completely (both) in this icon). You need to find a way to make the part of the helmet closest to the face lighter or darker, and the other end should be the opposite. If light was done on the inner edge, and shadows on the outer endge, the helmet would now instead of "red -> red -> red" go to "white red black -> red black -> red black" (white part is covered up now), and that would also improve a LOT of motion too.
Now, I've already mentioned there's the issue of both face and armor completely lacking any shading or a light source, and there's also the issue of eyeglow being nearly in the direction of the motion, making it ruin the duplicating effect. I'd try with a more circular glow, and then add a very slight and much shorter motion to the upper corners.
Believe it or not, this would "fix" the entire icon in all possible fields: from execution of shadows and light source, over render, movement, depth and angle positioning.
If you had issues understanding what I was trying to say, feel free to ask and I'll do a quick makeover of the icon to show you practically what I was meaning.