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So, any psyker hit by this weapon suffer a "peril of the warp", in additiion to the potential wound caused by the shot (S5 AP -).
I think it is a pretty fun weapon (I can't see anyone using it in a tournament), but I never used it for the moment.
I think only one shot isn't enough for it.
However, it can be used against a lot of differents army (deamons, eldars, tyranids, chaos marines....). Did you used it ? Do you see any use to it ?

What means do we have to lesser the enemy's ld or to make this weapon more reliable? As an imperial, I can think of a 1st company task force (give -2LD) , near a psyker hit by the weapon (so he will peril more easily).
A psyocculum, if the weapon is held by an inquisitor, can ensure your hit, but for 25 pts...

With a xenos alliance, the Dark Eldars have many ways to lesser the opponent's LD.

Can be helpful to fight those pesky buffed psyker, as the perils of the warp allow no save at all.