As to everyone who commented that warmog's is completely fine and doesn't need to be changed, and "BT > warmogs", you clearly don't see its power.
If an ezreal builds warmogs straight after bloodthirster (midgame) he becomes COMPLETELY unkillable with a bit of peel.
If an Olaf rushes a warmogs, you can't just rush one (on an ADC) to counteract it, and there is NO WAY that bloodthirster > warmogs.
Because warmogs is being picked up so early, it is HORRIBLY inefficient to pick up a liandry's to counteract it, and Grievious wounds is completely useless (The HP regen isn't the problem here).
Yes, Riot is implementing changes to warmogs (For which I am glad). Let's see how those go.