Played around with this talent for a bit. I am not noticing it making any difference whatsoever.
Running bottom left keystone, the dog deals relevant damage to things I need it to kill, but the bleed virtually never comes up. The shit that needs to get knotted isn't usually around trash anyway, and bleeding a theoretical clowncar of shotgunners is irrelevant when I'm already shoving my shock maul up their assholes.

Voltaic mandibles is good tho.