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mercury treads are a very bad choice of boots on Talon. Ionian Boots of Lucidity are the best choice for him and by taking Ionian Boots of Lucidity you don't need CDR glyphs.
Your runes don't make sense at all.
phatom dancer is a very bad item on Talon since he is an assassin and he deals damage with his abilities, not with auto-attacks. Even your explanation is bad, how the **** you are gonna crit with Noxian Diplomacy to kill your enemy??? That's a very very small chance for this to happen.
Trinity Force is a meh item on Talon since again, he deals damage with his abilities and by taking Trinity Force or Frozen Mallet you lose alot of your damage output and that is a big loss.
Your job is to go in the teamfight, burst down the enemy carry and then make it out alive but with this build you won't be able to burst your enemy down...

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What I have written, if you want I will help you on the BB coding, just send me a PM.

So now, you say that your Noxian Diplomacy's damage output increases with the passive but the chance is like 25% and you should hit your target like 4 times to apply your slow or else the damage output still remains the same and you won't attack your enemy when you burst him. It is right that you have 2 or 3 basic attacks in your burst but even if you have luck and the first one will be a slow, the damage won't pe amplyified because there was no slow on your target.
Still, I say that only pure AD Talon is good only because it is the single way to kill your enemies in one burst. You think the health from Trinity Force or the slow will help you?
I tought the same way but then I moved to Frozen Mallet instead of Trinity Force and then realised they are pretty much a loss of money.
And as an assassin your main objective is that after you join a teamfight, get out alive if needed and that's why Mercury's Treads won't be so usefull in late game but they will in early game.
I will delete my downvote and upvote only because of the strong arguements you had to defend your build on Talon.

Um yes it does and why?
All the ratio of one attack damage is the highest on noxian diplomacy leaving this your strongest move doing around 700-500. Your attack damage lets say is 350. 150 stronger would be makeing it 475.
Instead of 700 damage you would be doing 825. Thus making it a better choice with additional movement speed. Dont forget the slows and his passive.

In a team fight I burst in and kill a carry. Now what do you do? Oh lets just sit there and do nothing for like 15 secs. NO!!!!!! You keep attacking!!! Adding more damage to your q will affect make your over all damage in a team fight higher.

Merc treads are a good choice for mid, I just disagree with the attack speed and the crit. If you check Vapora's guide you will see that the trinity forces passive affect doesn't give it the same damage output as just doing a bloodthirster in the end... really, you should go look at it.

Yeah maybe the phantom dancer is a bad idea. But why do you think trinity force is a bad Idea?
First of all the passive which makes you next attack 2.5x stronger. Talon's q stacks with on hit affects. Next it gives slow. Look at his passive.
Mercury treads are for mid lane where all mages have slows, stuns, and snares. It gives extra magic resists also.
Late game talon is very easy to kill because of his low health points. Being stunned or snared can kill you so mercury treads are perfect for this.
I'll change the phantom dancer though. Thanks for the tip

i do not play talon as i hate him, but the build seems to work just great here:D

yeah but if you dont have enough damage to kill a carry right away the phatom dancer could finish them off. Many people will counter talon with a thornmail so its good to have some finsihing basic attacks.
Your right i did say you could tradee in your ghostblade but, your trinity is great because the passive which makes you next attack 2.5x stronger. Talon q stacks with it. That extra crit from triforce, ghostblade, and dancer will go wiht you q to do a massive amount.
The ghostblade will help you escape if you ult is down too.

Talon is meant to be a melee assassin so stacking attack speed on him and proc slows is rather redundant. He needs to dive in, burst damage then duck out until he has cooldowns back up again. It's a risky play but it means you can trade off for more ad items to boost your burst. I wouldn't go for trinity, phantom or ghostblade, but using the brutilizer early is still helpful but trade it off for an infinity edge or another bloodthirster later. Merc treads are good to get out of CC so you can make a quick escape.