Here's how the sequence with triggered Faydedar goes:
If you've killed Ulump Pujluk in SoNH and looted Froglok Essence, then take that essence to Dolgin Codslayer in Timorous Deep. Dolgin Codslayer is a semi-rare spawn on a one-day respawn timer. In what most call "piece of paradise", the southernmost island in Timorous has an underwater tunnel on it's east side. When you go through that one, you swim around to the underwater tunnel on the west side of the middle island. When you go through that west tunnel, you run up on a beach and into "piece of paradise". Dolgin Codslayer will be on your RIGHT, fishing at the edge of the water. Hail him and he says something to the effect of 'You scared me! There's a nasty beast in this pond!' Hand him the Froglok Essence, then Dolgin despawns and hands the essence back to you. The triggered Faydedar will spawn in the water in front of you immediately. He has an AoE fear and debuff which also nukes for 500 dmg. Our group of five wiped him out quick and easily. We had a paladin, beastlord, magician, wizard, and a druid that got feared over and over again while the other four whacked him(that druid was me ><) - he dropped a Pod of Seawater, and nothing else.
I'm not sure how hard he hit for, but the paladin tanking him only went down to about 60%.
Woot, another piece of my epic done today! (Got all turn-ins done for ancient pattern, powder, clay, which produced my Runecrested Bowl. And then of course, our wittle fishy Faydedar.)
As tough as you may fear Faydedar is, he's not so tough at all