User blog comment:Emptylord/Season 3 - PBE Patch Notes/@comment-220.255.2.167-20121116061838/@comment-3974211-20121116165857

I think it's suppose to be an alternative to Phantom Dancer for champions who want CDR instead of Critical Strike Chance. It'd be stupid to have Cloak and Dagger that isn't built from Cloak and Dagger, thus the new name.