Event: Love is in the Air
During the event you get 2x Emblem of Frost for doing the daily The Crown Chemical Co. encounter accessible through the dungeon finder menu. You also have some chance to get other items, like Big Love Rocket mount. The boss itself also drops some iLvl 226 necklaces.
There are also a few perfumes that give 1-hour buff that can be used together with flasks. Buffs are 20 Defense rating, 45 Spell Power or 75 Attack Power. They require a little bit of work, but are mostly worth the hassle.
According to the warmane event calendar, the Love is in the Air event will start on Feb 14th and last two weeks. Well, it has actually already started on 10th, so most probably it will end on 24th. Thanks, Warmane.
Also remember that the Lunar Festival event ends on Feb 14th. Apart from the Elder title you can get Elune’s Lantern. It is used to create Elune Stones, which may be useful during raids to mark certain places with spotlights.