..and IF they happen to have their physical armor already removed..
Simply not true. The CC is applied after it's damage effect, so often I use it to shred their last armor and instantly cc them afterwards. There's absolutely no need to wait till armor is completely gone.
I disagree, and I am also speaking in terms of reliability.
I've had the knockdown component resisted on an opponent that had 1 point of physical armor left. It was pretty face-palm worthy and I ranted about it for several minutes to the "delight" of the friend I was co-op'ing with. However, I have also had knockdowns successfully trigger on opponents that have several points of physical armor remaining. You are always gambling whenever you use it on opponents that have physical armor remaining.
While there are skills that do remove armor prior to applying the CC effect (such as Chloroform), Battle Stomp does not appear to be one of them. A knockdown resist is not guaranteed to be avoided unless your target has 0 physical armor remaining before you use the skill, and even then the knockdown can still result in a "miss".
I am not implying that the skill stinks, but I would certainly not call it overpowered (especially when opponents are scattering and you end up impacting only a single target, only to regret not having it at the ready two turns later when an opponent's ability has managed to convert the battlefield's terrain into a environmental hellscape).