Yes indeed people there are more things you can use in a raid then Flask of Frost Wyrm and Flask of Pure Mojo. I'm not talking bad on these two flasks, they are great, if you are having mana problems you use the mojo, if you aren't you use the Frost Wyrm it is a great idea and the fact that it persists through death saves you a bunch of money. But you can't close your eyes to the possibilities of using other combinations however that could actually improve your healing.

You are allowed to use one Battle Elixir and one Guardian elixir at any one time. Flask of Frost Wyrm and Flask of Pure Mojo both count as a battle & guardian elixir, so you can't use any others while you have one of these in effect.

As for what I feel is best for me, I am still under the haste cap so I use Elixir of Lightning Speed paired with Elixir of Spirit and it works very well for me. Yes I do have to refresh it every time I die and it costs a bit more then Flasks cost, but not too much more. Flasks are expensive and if you buy the mats to make the elixirs that you want and then find an elixir master to make them they come out pretty cheap. But you have to make sure you have an elixir master do it, they can proc and make quite a few extra for the mats of 1. After I get haste capped I'll change what I use, not sure what I'll choose to use yet, it'll depend on what I need at the time I suppose. Any suggestions?