Whenever I get the Blessing of Talos it always says "Time between shouts is reduced by 0%". Is this just a bug with the display and it really is decreasing the shout recast or does the Blessing of Talos just completely bugged out and not doing anything?

Its reduced by 0%, reducing something by 0% means.. theres no difference.

Sounds like a bug, or something they forgot.

I'm betting that you're wearing the Amulet of Talos.

If so, it's saying 0% because it won't stack with the Amulet. If not, no idea.

However it does cure you of diseases

Nope, I was not wearing the Amulet of Talos. I finally found that after 25hrs of play time.