The basis behind his build is to shake them with the rake special ability while full attacking with shatter defences.
The problem is a strength-based ninja with a two-handed katana using power attack outdamages that, and doesn't require as many feats. At 10th level, which is before the rogue can even acquire his ring of move and full attack, the ninja can cast greater invisibility on himself as a swift action MANY times per day for 10 rounds. So yeah, full attack with full sneak. Before you bring up all the things that can see through invisibility, there are so many more things that are just straight immune to fear, and they all shut down a shatter defences build.