Honestly, I don't think that you'll find it worth it. If you're using the Spirit Monarch, Chances are that you're not going to have another source of faster block %. This means that you're going to have about a nine frame block. Spirit gives 55% FHR, already putting you at a 9 frame recovery and 5% from 8 frames. Hitting 86% is quite easy to do for the 7 frame recovery, so while using a Spirit Monarch, it is usually just easier to take the blow and recover quickly and move on.
Also, the boatload of points you'd be spending in Dex would work well in vitality. You'll find yourself making the hit recovery animation less often if you have more health, so more points in vitality is always good.
Finally, there are very few things you'll actually need a shield to block. If you're planning for blocking for your teleporting, it's better to have a high vitality so you don't enter hit recovery animations. This allows you to cast while being hit versus entering block lock where eventually you'll get swarmed and can't cast.