yes, but it won't work with weapons so disarming would not be a factor I would think(heh, unless you mean literally removing the 'arm')
As for remove, I don't know how much that'll be a factor
forgot about triggerable items though, only allow it to work with 'passive' non-activating effects
aka elven cloak, periapt of wisdom, and bracers of health; yes
wands, scrolls, ring of shootings stars and the like; no
ps) if you could also please include your reasons of balence if you suggest a certain level?
also remember that you still have to use a wildshape to get any use out of this spell.