KMS 1.2.145 - Union Revamp

That's what you think I'm telling you what it is.

Panic: damage has been increased from 1000% to 1040%, now decreases enemy’s attack by 30%, Darkness’ duration has been increased from 30 seconds to 80 seconds. Taken from orangemushrooms's blog

I think the updates would mention a increase in cooldown time since it doesn't we can only assume that the cooldown is 30 seconds.

Being a KMS hero, I can state that panic now adds 30% damage for a longer time, with the same cool down(or felt like it, at least).
Might as well make it passive with lower damage boost, lol.