Let's codify a set since it's officially released.
Volbeat @ Leftovers
252 HP/252 Def/4 SpDef
Bold / Prankster
Substitute/Encore
Baton Pass
Tail Glow/Encore
Thunder Wave/Encore
I think this has far more utility as a Substitute passer than as a Tail Glow passer. Realistically, this set can't be stopped, as any other Prankster pokémon can be caught on the switch with a Thunder Wave and then Baton Passed out of. Encore is useful as always, but its recipients will need to be a lot bulkier in order to take advantage of the immediate boost that Volbeat provides, or will need to take advantage of switching in on Volbeat's weaknesses. There's no point investing in its special bulk since it needs all the physical bulk it can get to survive powerful physical Extremespeeds like those from CBNite and SD Lucario and to take advantage of its fighting and ground resists. Its special bulk is decent enough that it can switch into walls that throw out Scald or non-stab Ice Beam, etc. Leading with Substitute first lets you baton pass into a safe switch, but the possibility of a tail glow pass is too good to pass up. Almost anything can benefit from +3 spatk or a free switch, but particular partners of mention include bulky water types, particularly Swampert and Seismitoad, ground types such as Nidoking, or Tyranitar, who is the only OU viable pokemon that covers all of its possible weaknesses Since +3 is such a big number, it allows physical sweepers to go mixed for a specific threat, or for something like LOZam to 1hko 252/252 Bold Blissey with Psyshock.