In my opinion (based on what I saw on PTS and the God Reveal), his passive needs to be adjusted. The time frame in which he would take more damage instead of a CC is very low and by the time the CC application animation is over, the damage increase is over too. On top of this, the damage increase isn't all of that high, he isn't being punished for getting hit with a CC.
Then there is the issue (tested by DukeSloth) in which he can stand in Susanoo's ultimate and have his passive be applied at all times while in the ultimate but when he does the same thing to Hades's ultimate, the passive only goes off once and disappears.