Larian Studios Forums Divinity - Original Sin Divinity Original Sin - Help/Tips/Tricks The Thief

Edit:If you have high dexterity, the cooldown will be reduced. Whysper is right, only int has this behaviour.

Walk in Shadows is only used for 3 things:

Stealing stuff.
Getting a better position before the battle.
Escaping attacks when you're in the middle of battle (And if you are, in my opinion, you are playing rogue wrong).

Sneaking is powerful together with Guerrilla, test it out on one hireable henchman before starting a playthrough which focuses on it.

Edit:

And no, unfortunately there is nothing that increases enemy interest in you inherently, this is not one of the main mechanics of this game.

HOWEVER, enemies tend to attack characters that have lots of buffs (Put fortify and oath on Madora and see who they will attack ;D).