(Disclaimer: I'm going by the numbers on this -- I have no actual experience as a druid healer.)
Arsna, that's a good spellpower build, though low on health. You might get away with low health if you stay mobile and on the outskirts of battle; your choice of the regrowth glyph over the rejuvenation glyph tells me you prefer to "plant and heal". However, Regrowth averages about 60% of the healing throughput of Healing Touch, unglyphed and glyphed (actual numbers are in the thread following Vinod's 29 druid guide), so you'll want to keep your playstyle very disciplined.
For you to be effective with the Regrowth glyph, you'll want to concentrate your healing on two or three targets at most, and you'll need to keep opponents off of you so you have time to heal. Even a glyphed Healing Touch clocks in with a 1.5 second cast time, compared the 2.0 second cast time of Regrowth -- you're at a greater risk to be caught, and your low health makes that dangerous.
Certainly, this playstyle can be done. As TLA4lyf pointed out, Zomgbalance has similar gearing to you including the low health, and chose the glyph of healing touch. If you take a "heal, kite, heal, kite" approach, your glyph choice make work for you. If you would like to heal a greater variety of teammates, consider the glyph of healing touch, and if you would like more mobility, you may get more utility from a glyph of rejuvenation with such a high spellpower build.
Finally, if you find you're a tad short on health, consider the [ITEM]Raptor Hunter Tunic[/ITEM] with the +150 health enchantment. You have a very nice BoA chest, but the tunic is the single biggest stamina boost you can do for your character in one slot, that it may be worth losing 7 INT and the 12 spell power to get the 14 STA (20 STA in your case, since you used the +4 all stats enchant on your BoA chest). That's a 15% boost for your health, for a 7% loss of spell power which translates just over a 1.5% loss of healing with your current build.
I think my concluding remark is that if your playstyle matches your gear and glyph choice, you have a very interesting, fun druid on your hands. Otherwise, you might not find much utility out of the regrowth glyph.
Bwappo