Windwool Cloth is the cloth you are gonna be getting if you are killing humanoids from any Mist of Pandaria content, and is used to skill your Tailoring and First Aids from skill point 525-600. It’s also used to create the biggest bags ingame and to craft the best legendary gear from raid tier 16, that are craftable. This makes it a highly demanded item, but since every other player in the game is also getting this cloth in their loots, you will need to optimize your farming to get any significant gains from your work.
As for patch 5.4.2 many of the old grinding spots have been nerfed or fixed. There are only a very few left and those spots are often untouched.
Not much to say about this spot, the mobs spawn fast, you have npc’s that helps doing a bit of damage to the mobs and the loots are great. I would recommend you to go and buy some Potion of Luck. The potions only last for 20 minutes, so you will have to remember and buy a stack, when you are at the Auction House. For this spot i recommend you play a class like Death Knight, Mage, Monk or any other classes that can make heavy AoE, without any need to build up rage or to wait for any cooldowns to get off.
The zone is on Pandaria and is in the middle of Krasarang Wilds.
You will get roughly about 200-300 Windwool Cloths per hour which is not great, but on top of that you will get some recipes with the professions you own. Otherwise there will drop around 1-2 blues and 5-15 greens, those sell for a good price. The Plundered Treasure that you will get from the Potion of Luck, will get you around 60-80 of mixed Trillium Ores. From just looting the mobs you will see around a 300-700 gold.