I am assuming its not doing the expected damage to toughness. It looks like its doing less than 30 per tick to me. But I do think its perfectly fine as it is. Does it really matter if it does toughness damage considering its still only meeting the standard of the bolter? If that even? If anything I’d say the bolter hipfiring still outdoes it on elite mob killing.
I kinda don’t get this either. You do give up DPS for venting even if it would be free, and with how ammo inefficient the weapon is it’s still pretty hard to run it on HiD or SG as the main anti-special. I’d put it a bit below Bolter power-wise.
Having the main cost of the vent be time made it way more enjoyable and it doesn’t really reach the efficiency of the stronger Vet ranged options. I’d say it would need an ammo regen increase to even reach bolter-level usefulness (which I wouldn’t even put in the top 3 choices for Vet).
Could also go the “more damage!” route I have proposed many times. It really doesn’t impress with its light attacks. Assuming you land at the right breakpoints you could end up being more ammo efficient.
I don’t mind it being an ammo hog though. It gives it some confounding factors to worry about and it is very fun to shoot now. Heat management, as you say, is still a consideration because of time spent not shooting. +Even if toughness drain on cooldown is just a niche worry, only when within 8m of an enemy or whatever, it still is some small disadvantage to keep in mind.