I've been working on the Alchemy transmute for Living Elements in an effort to quantify the procs that Blizzard says are working. During my time in the Beta I used the Living Elements transmute quite a bit and never got a proc. Therefore I assumed the procs were not applicable on this recipe.
Now that we know procs are working and we know that we can control the resulting elements, I've taken this recipe more seriously. I leveled my Alchemist so I could unlock this recipe and start experimenting with it. More inportantly - my Engineer needs volatile air! So I flew to Uldum and camped out for a few days with my stash of volatile life. The first two days, I got no procs. The third day, I got a proc! Obviously this isn't super-scientific or anything, just one example. I wanted to go ahead and share for those of you who haven't gotten a proc yet, just to give you an idea of how it works.
The good news is that I got an extra 17 volatiles for my proc. That's more generous than I was expecting and actually 1 more than the tooltip indicates. The bad news is that it did not proc volatile air, the whole reason I traveled to Uldum for the transmute. The extras from my proc were volatile earth. I still got the regular 15 volatile air as well, so essentially I ended up with 2 sets of volatiles from one transmute. Just be aware that even if you travel to a specific Cataclysm zone to control the type of volatile when transmuting, the bonus volatiles will apparently still be random.
If you have other experiences with Transmute: Living Elements you'd like to share, feel free to leave a Comment!