The duration of light feet is 10 seconds so there's no actual benefits from LF's cooldown being 1s.
You only have the opportunity to use LF again after using cure curse, because it's unfair for a rogue to be slower than a warrior/priest/mage while LF is not active.
Ideally, LF's cooldown should reset when cure curse is used, but that's not possible yet, hence the reason why the LF's cooldown was reduced back then.
So, giving an example like setting spike's CD to 1s literally makes no sense.