[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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No, it's already a much better weapon than both of the other class exclusives. Each exclusive has one thing that makes it unique, Tlalocs is increased RoF without decreased damage, Ace of Spades is +1 bullet to it's mag per precision kill, and Fabian Strategy turns from a Monte Carlo, into a Doctrine of Passing.