Not Updated For Current Season
The masteries shown here are not yet updated for the current season, the guide author needs to set up the new masteries. As such, they will be different than the masteries you see in-game.
Of course, all items are situational.
AP Twisted fate can easily teleport and clear lanes. He can then use his ultimate to escape or push another lane.
If any of your players are caught in the jungle, shen can ult to save him, pantheon can drop it, gang plank can drop his cannon, ashe can shoot her ult, twisted fate can ult for support.
This team is very tough to gank, can baron easily, and is great for ganking and then pushing lanes.
Summoner spells, and runes are obviously my personal preference. If you have a setup that works better for you, then learn that. I don't main all of these champs :)
-- This build was created for fun, so have fun with it! If you lose, laugh at the little things. This game is supposed to be fun, and it seems people rage too much to remember that :)