Well; that first ability kinda sucks. The second one is somewhat over-good though; and by putting it on a land you're giving it to every colour? Maybe a touch too good; so long as the people building their decks remember that this only makes mana in extremis and should count towards their spell budget instead of their land budget.

Yeah, with a normal mana-producing ability it was just too good. I think the crappiness of the first ability does offset the second ability a little. And while the second ability is pretty good, it requires some set up and can be pretty slow in realistic game play. Obviously still a Limited bomb (first pick pretty much every time). Would it be better if it just had "T: add 1 to your mana pool" and entered the battlefield tapped?