I've been toyin with the idea of a Shell Bell on Wobbuffet. My logic is as follows: Leftovers recover 6% a turn. Upon a Counter/Magic Coat, I will recover 1/4 of the damage I took (1/8 of twice damage took). In order to be AS efficient as Leftovers, I must take 24%. I regularly take more than that. Will it work?
Assuming it works like other "drain" abilities, Shell Bell's healing should cap at 1/8 of the enemy's remaining HP, if you KO them with the attack. So it won't just be that you'll need Wobbuffet to take over 25% of its HP in damage to heal more; you'll also need the enemy's remaining HP to be over 50% of Wobbuffet's maximum. With Wobbuffet's colossal HP stat, if the enemy's taken any notable amount of damage, that will likely fall short.
So you're going to have issues even breaking even with Leftovers recovery on the turns you do hit things, let alone making up for the turns when you don't hit. Don't go for it. Shell Bell is a terrible item.