The stratagy would be to land your Q and then Ult in and deal massive damage with basic attacks and my passive... I don't see why it wouldn't work other than being really squishy.
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1 Week Ago
I don't play a lot of Diana personally, so somewhat might be able to answer better than I can. I'll try anyways though.
I think that the main problem with your build is that you are too squishy and have no mana or mana regen. Diana doesn't really have a way to exit fights so she's committed once she goes in. Zhonya's will help with that, giving your team time to follow up, but I don't believe it is enough.
The second problem ties to the first; the build appears to favour sustained damage (Nashor's Tooth and Rageblade), but you are to squishy to actually survive and do that damage. If you want to deal burst damage, I would recommend changing the Guinsoo's Rageblade to a Lichbane.
Honestly, after the nerfs I personally think Diana serves better as an initiator who deals good sustained damage. I would recommend Nashor's Tooth, Zhonya's Hourglass and Abyssal Scepter/Athene's Unholy Grail as core items, then Randuin's Omen and Void Staff. This would let you dive into a fight, Zhonya's to stall, and then live long enough to get multiple rotations of your spells off.
While your burst damage isn't that high, you should survive long enough to proc your passive and cast your spells several times. Also, the resistances combined with your shield really helps your survivability,
Once again, I'm don't play Diana much (not a fan of her playstyle) so take this with a grain of salt.