Ahh, right. First off, yeah, I'm not so sure about the "cannot be healed" thing anymore... a bit of thought threw off all the "omfg lame!" sensors in my brain, so I need a better idea for that. Possibly something like this:
Blood Rite: Slash extends bleed on attack by X seconds and any unit bleeding because of Slash has all damaging conditions tick Y% faster.
What this would mean is that say Y were 100%, any bleed or burn would apply it's damage every half second, or in effect, have it's DPS doubled.
Anyways, more on point, the ult is as follows:
Applys X seconds of bleed to target unit and so for as long as their bleed lasts they take Y damage per second of condition lost
The X seconds of bleed is fairly straightforward, but the second part is where the complexity comes in. In essence, it deals Y dps per condition someone has on them in normal circumstances. However, if they were to say, drink a pink potion, they suddenly take Y times the sum of all durations of all conditions. Let's do an example, because that's a bit confusing, I guess...
Say Slash and his buddies put the hurt on Kassar, applying him with 30 seconds of bleed, 10 seconds of blind and burn, and 3 seconds of cripple, in addition to Slash's ult. For the first three seconds, Kassar takes 4*Y damage every second, and at the end of which, he has 27 seconds of bleed left, and 7 seconds of blind and burn. Kassar runs for 2 more seconds, taking 3*Y damage for each of these seconds, before deciding that this isn't going well, and popping a pink potion. Before popping the pot, he has 25 seconds of Bleed, 5 seconds of blind and 5 seconds of burn. For popping the potion, poor Kassar takes Y*35 damage (25+5+5).
Also, for the sake of completeness of this example, let's say another scenario pops up where Kassar once again braves combat against Slash and Co. He ends up with 12 seconds of blind and 5 seconds of bleed, and reflexively pops a potion. This deals 17*Y damage to Kassar, even though without popping the potion, the effect would have worn off with the bleed, only dealing 10*Y damage (plus the bleed).
Hope that helps