It's not great, but it's doable. The main issue is the +freeze from the set -- from my experience you're going to shatter all of the trav members except for the three super uniques. I think I would only do this if I was on HC and really needed the defensive stats from the IK set.
Trav barbs are going to be much more efficient on p1 since find item doesn't care about player count.
For the same budget I would probably run oath + rhyme on a berzerker instead.
And, if you're on D2R, IK set can no longer hit the max 4PA ww breakpoint.