I have left her base stats mostly untouched apart from stat rounding. She has a lost good amount attack speed at level 1, and her damage is lower early, but scales better with levels so that her DPS from autoattacks at level 18 stays the same. Also she lost 50 range, but that point's for later.
If Ashe is not moving, her next auto-attack gains 20 bonus range and 5 - 10 (based on level) % AD per second, for up to 5 seconds. Ashe's abilities are also affected by Focus and consume the buff on use. Focus is disabled for 3 seconds when Ashe takes damage.
Focus also grants 20% bonus missile speed per second.
The point of much of her stat changes. Focus becomes a rather strong steroid, emphasizing Ashe's character as an archer that strikes little, but strikes well. If Focus is left fully stacked, Ashe has range equal to that of Caitlyn, and about 15 bonus AD for one auto-attack, giving her threatening poke. But she is required not to move and any damage will reset it, giving counterplay to an otherwise oppressive ability.
COST: 30 mana
Passive: Ashe's basic attacks against slowed targets become critical strikes, dealing modified base critical strike damage.
Explanation: My take on this is: Ashe needs to have good CC, but snares or whatever don't really fit her, so I opted for a slow that she can reapply frequently without being a perma-slow. It also adds another steroid, that she will mostly need to set up herself, given the current knock creep.
COST: 50 mana
COOLDOWN: 16 / 13.5 / 11 / 8.5 / 6
Active: Ashe fires 7 arrows in a 57.5º cone, dealing physical damage to each target hit. Each arrow will only hit one enemy, and each enemy will only be hit by one arrow. Volley also gains 100 range and bonus physical damage per second of Focus.
Explanation: Mostly unchanged. Its range is shorter by default but it synergizes very well with both the previous skills.
Feb 24th, 2014: Now changed a little bit. Slow is removed, and it has a higher cooldown, but Focus adds more damage.
COST: 70 mana
COOLDOWN: 20 / 17 / 14 / 11 / 8
Active: Ashe animates a hawk, granting sight and slowing enemies around it for 2 seconds as it flies. Champions revealed by Hawkshot are revealed to Ashe and her allies and have their armor reduced for 2 seconds. When the hawk reaches its destination, it reveals the nearby area, applying the same effects within it for 5 seconds. Hawkshot's cooldown is reduced by 0.5 second per second of Focus.
The sight range while flying would be cut from 1100 to 220, but the sight granted at the hawk's final destination would be kept intact at 1100.
Explanation: This skill needed an overhaul in my opinion. My way might not be the best, of course, but adding some more utility to Ashe never hurts as far as I'm concerned.
Enchanted Crystal Arrow
COST: 100 mana
COOLDOWN: 100 / 80 / 60
Active: Ashe fires a giant arrow in a straight line. If it hits an enemy champion, it will deal magic damage and stun that champion for a duration, based on the distance the arrow traveled. Additionally, enemies within a 250-radius of the impact take half the damage and are slowed by 50% for 3 seconds. Focus grants the projectile bonus magic damage and 0.2 extra second of stun per second, but the stun cannot exceed its maximum duration.
Enchanted Crystal Arrow applies "Chill", a debuff that interacts with Anivia'sFrostbite.
Enchanted Crystal Arrow provides sight around the arrow and briefly after detonation.
Explanation: Again, mostly unchanged. This is Ashe's signature after all. The only changes are: less damage (unless Focus), less cooldown, stun duration raises with level, but really the most important point is more late-game arrows, more terror.