Kayle is my main, and as much as Kayle's alt may seemed op, I have to disagree with you. I'm assuming that you are constantly annoyed by Kayle's ult because it allows for easy get away/easy kills for her and other dps'ers, but the fact of the matter is that Kayle really only has one effective ability that is hers and that is her intervention. Her slash move, BLOWS. Her fire sword, BLOWS. Her heal is useful when powered up all the way, but until then it's only a minor healing ability, nothing like Soraka's heals.
If they did up Interventions cool down they need to at least up Kayles other abilities, especially her heal. I don't expect it to match Soraka's but, at least come close with a good build.