So a couple of my guildies did this the other night and actually figured out the correct strat. I haven't been in there to test myself, but it sounds good. For the record, I've done the boss with the burn method previously.
So the strat they found out was that you take damage from wicked eruption based on the number of stacks of the color you are currently standing in. So what you want to do is move quickly to the color of the stacks that are the lowest when he casts wicked eruption. Periodically throughout the fight he targets one color and removes that stack, but in theory, if you just stand in the same color circle the entire fight and always keep that stack at 0, you should take little (less?) damage from wicked eruption. The tricky part then is just following the teleporting circles and dealing with the snare, which logically makes sense since those are mechanics of the fight.