Why do people think it's OP? You use a melee and a grenade to get a kill. That seems fair enough. I don't hear people complaining about Sticky grenades and they kill you in one shot without the use of a melee. It's not that hard to get out of either, unless your directly in the middle and in that case the fella who got you simply did a good job. So I'm a bit curious as to what makes people think it's OP? Perhaps it's something I'm not seeing.
[spoiler]Now before people say that I main a Hunter and that I use this "wombo combo" I just have to say that I use Nightstalker because of my dream to one-day be able to get a group of enemies tethered (while I have bloodbound) and actually get the kills NOT for some melee grenade combo. I hardly ever get lucky enough to tether a large group of enemies and when I do I end up getting killed before I land :([/spoiler]
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It's a little op because if you get caught in it, you're pretty much dead no matter what. That being said, the fact that you have to use both charges balances it out, imo.