I guess its just about personal preference, which wove you scarifies for T-Wave, personally I love having that power from Water Spout as it eases prediction a lot as it destroys even resists. The drawback is of course thats it not as reliable as Thunder. The LO set you're suggesting looks interesting though, I might try that.
Now on to a set I lately started to use on my hyper offensive teams:
Skill Swap Deoxys-S
Deoxys-S @ Focus Sash
EVs: 4 HP / 252 Atk / 252 Spd
- Skill Swap
- Fire Punch
Stealth Rock / Magic Coat / Taunt
My goal with this set is to get up as much hazards a possible not caring about the opponent. On HO I think its more important to get up your own hazards then denying your opponents thats why Taunt is slashed as third.
The only real annoying thing when using Deoxys is Magic Bouncers blocking you're hazards. Skill Swap absolutely destroys Magic Bounce tactics and you will always get you're hazards up.
Fire punch is for dealing heavy damage to Foretress and to kill Genesect leads trying to U-turn on you.
I prefer having all hazards on Deoxys but Magic Coat can be useful agains other Deoxys.