In some cases, yes. For a single point, Ultimate Penitence is a solid pick-up, but it's not something that will take priority over a ramp focusing on either Shadowfiend or Mindbender. When running Oracle, due to Preventive Measures, Ultimate Penitence becomes much more powerful and is fully invested in talent point-wise. For Voidweaver, it can still be run but be more of a supplementary cooldown when your pet is unavailable.