I think both refire rate and damage should be reduced so that the crylink stays a powerful close combat weapon, if you make use of the extra splash damage when it bounces. Maybe you can, for that purpose, even slightly increase the splash damage? That way it would also be useful for shooting enemies near walls. That might even add to the gameplay maybe if that would be the speciality of the crylink, i dunno. But what I don't like is people spraying open spaces and even medium sized rooms making it impossible to survive - at least for me ;o) - without hardly any skill being involved.
I always liked the alt-fire of the crylink for open spaces and "dogfighting", but nowadays I never use the crylink at all when I have any other weapon - and even then I fire only single shots at a low rate because it feels so lame somehow.
Something has to be done definetely there.
But don't get me wrong here, I don't want to complain - Nexuiz is a great game with an otherwise excellent weapon balance as far as I am concerned!