Toravon is the latest boss to appear within the Vault of Archavon, however we're not quite sure if he is the last of the VoA bosses to be seen in this expansion. The boss is fairly simple conceptually, but don't take him too lightly. I'll walk you through what you need to know to get score some sweet tier 10 PvE gear and equivilent PvP gear.
He drops tier 10 level gloves and legs along with PvP gear (like belt and boots). Unlike his brothers, he drops 3 items on 25 instead of 2. And yes, he does drop Emblems of Frost. Its a fairly simple encounter for an equipped raid group. There aren't any fires to stay out of or anything. You'll need 2 tanks and at least 4-5 healers (on 10 man, you can get away with 2).
Tanks will need to switch off of each other to shake the Frostbite debuff. It can stack up to 100 times and each application places a DoT which hits for about 1000 every couple of seconds. Your tanks can switch when they feel the debuff is getting high.