Arcane Distillect  

Range of pet: My experiments (just in the guild lobby) was that the aura is on the caster not the pet. Range is short, which means the caster must be fairly close to the pet(s) to benefit. Rathe's Strength (a similar aura but 10%) is actually cast on the pet so the caster can be back at range (raids, aoe bosses, etc) and still get the benefit.

Benefit: Since higher level burnouts have better stats (don't think they stack) it might seem irrelevant to cast BUT if the mage runs swarm pets (RS) in their rotation, the swarm pets get the benefit.

Usage:

(1) If you do tight fights, then Arcane Distillect (AD) has a 15% bonus to pets and the mage's aura should reach the swarm pets.
(2) If you do long range fights, then Rathe's Strength's 10% bonus would be better because the mage would be out of range of AD and other group pets would benefit. RS pets are a questionable cast at long ranges anyway (pet travel time kills their DPS).