Actually, this spell even has its uses while soloing/duoing or whatnot.
I often run anywhere from 2-4 toons at the same time. I have a 75 ENC, 75 CLR, 73 SHM, and 67 DRU; but *NO* tank-Class toons. The ENC (my main) and SHM have max defensive AAs; the other 2 don't have *any*.
My ENC is raid-buffed (self, CLR, and SHM) to 11.2khp/1634ac; with his Runes, he tops out just a tad over 18khp. He's also got a "Wand of Dark Waters" (procs Time Lapse, a 750pt DD that's *very* hard to resist; crit AAs will push it to over 1800 if it crits); always has "Trickster's Augmentation" up (for the Levitation aspect; melee proc of 75pt DD is a nice "gimme"); and has an "Improved Dodge III" player-made aug, as well as one of those Totems that increases Dodge by 20%.
Therefore, when I'm out toodling along with just my toon/bots, I use my ENC as the tank. With his "Ward of Bedazzlement" up 24/7, if I end up with more than 1-2 mobs, I want them *all* focused on me...not the Cleric who is healing me, or the Shaman who is DoT'ing/Slowing, or my gimp Druid (who has *maybe* 7khp, if he's lucky).
In situations like that, casting an aggro multiplier on myself is exactly what's called for; because only by keeping all the mobs focused on the Enchanter can the others live long enough to do their jobs.