One person will get an on-screen banner emote warning you are the target point for this spell. She casts this every 30 seconds.
That person gets nuked. Anybody within 35' range will get hit by the nuke, and will re-generate again now from their own location. So if you have 3 people close to each other and somebody gets targeted, everybody having max spell shielding - all 3 of you will take 32,500 + 32,500 + 32,500 seemingly instantly.
You can cure, but you need a spot-on curer that can react asap.
Simple Strat - Ranged fight. Seperate everybody more than 35' apart and suffer the nukes individually. This is not possible if using a merc healer as they will stay near the owner. So make sure if using a healer merc - it's not the tanks merc.
Pets and Mercs do take AE dmg; unknown if they regenerate it.