The point of this build is to maximize survivability and AP efficiency.
You'll be stacking two kinds of slow (Cold and Arcane (buffed) ) on the enemy, and you'll be able to spam those moves because of Prism.
You'll have 40 AP more than normal because of Energy Armor and Astral Presence.
You'll be keeping the demons away with your slows and snares, and when they do get to you, they won't do much damage thanks for energy armor and daimond skin.
Skills: Energy Armor - Remember that in D3, armor protects against ALL incoming damage (Magic and Physical). Barbarians only get +40% armor with their War Cry skill. We get +65% armor AND +20 AP. That's huge.
Diamond Skin - An amazing skill when combined with the "Prism" rune. Allows you huge protection while, in this build's case, cutting your AP expenditure to 25%. It subtracts 15 AP from each spell. Since we'll be using 20 AP spells, this basically lets us spam them all day.
Frost Nova - Frost nova is a given for almost every build
Spectral Blade - Just my personal preference as signatures go. You can change whatever you like here. More AP, different skill, whatever works for you. Combine this with the "Prodigy" passive skill for an easy 4 AP a cast.
Blizzard - 20 AP for an AoE, damage, slow spell. Can't beat that.
Arcane Torrent - Same concept as blizzard. 20 AP (the rune provides even greater efficiency) for an AoE attack that, when combined with the temporal flux passive skill, stacks another layer of slow onto the enemy.
That's actually a pretty badass pic of Bam imo. Alot of people nowadays don't even realize how crazy guarly that guy was back when he was an unknown skater showing up on videos here and there.
One small correction. A barbarian if he so chooses could stack the Passive Skills nerves of steel, tough as nails and superstition along with the impunity runed warcry for +70% armor, +100% of your vitality as armor in addition to that 70%, and if my guess is correct a total of 70% increased elemental damage resistance with that. Then you have ignore pain runed for 7 seconds of 65% damage reduction which is stronger than diamond skin if the total incoming damage surpasses what diamond skin can absorb which is very probably on inferno at some point meaning you wouldn't get the full duration of absorb out of diamond skin.
I'm really just nitpicking here.:)-
Anyhow, I don't see any reason why your build wouldn't be successfull. It has pretty much all the tools required to handle difficult scenarios.
1) Bam Margera is a super douche (scientifically proven to be detrimental to a class build)
2) Your build can't do any effective damage. All damage dealt from this build is base damage without taking advantage of any of the fantastic dmg multipliers that wizard has access to.
3) build is entirely focused on AP (re)generation even though you have zero AP intensive spells, extremely wasteful. You'll never dip below 90% AP and this is NOT a good thing, it means that you could and should be using more powerful spells. the only remotely AP intensive spell you have is blizzard which is runed to not cost much, you're not accessing the full potential of the class by any standard
4) related to point 2, but you're overbearingly focused on survivability. You're already a ranged class so you should innately be staying out of the line of fire, there's way too much defense here and as a result it will take you 30 minutes to kill what would take others 2 minutes to kill. Best defense is a good offense, anybody?
I guess my biggest problem with this build is that anybody using just meteor-runed-comet with cold blooded passive will be able to do more single target damage with AoE spells than you can with single target spells....