[b]When Tlaloc's Exotic Perk is Active, it should gain elemental damage matching your Subclass.[/b]
This makes sense Story-wise, since the Overflow perk is using the Warlock's Light to power the gun.
And since the weapon is all about trading your super, it seems fair that you should be able to use it for elemental damage your super would have done.
Also, we need more Exotic Elemental Primaries other than Zhalo Supercell, and this seems like a good place to start.
p.s. You know how Bishop from X-Men can channel energy into his gun? Same idea.
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As cool as I think this idea is, I can definitely see where it would become a problem. Imagine running a Void warlock with Tlaloc against a team of Bubble Titans...Tlaloc would destroy them, and their Midas without a second thought. UniRems wouldn't matter because they'd never be in range. I say that having run a full fireteam of bubbles during this IB. I think the weapon is good as is, let it ride and do its thing.