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Seeing as panzerkins can tank gruul and kara, I would say so :P (just youtube panzerkin to see the videos)
QFT
My Boomkin is currently running Kara. I do get lots of love for the spell crit bonus but my guild takes full advantage of the druids versatility. I am often asked to off heal (+ heals is just over 1000 in Heal gear, ~980 without) and abolish poison (Romulo and Julianne fight).
Last week, after a not-so-stellar attempt, I was last man standing on Shade of Aran. He was at < 2% and I was OOM and at 1/2 health. We went toe to toe and I burned any mana I regenerated on wrath spam. Vent got very noisy...
It was the first time in a long time I downed a boss by beating on him with my staff.
As far as post Kara goes I can't provide any insight or experience yet. I would recommend checking in your guild and see if they plan on having a Moonkin in the Raid group. As others have mentioned, a lot of guilds don't see a need for Moonkin (or rather, view a Moonkin as a waste of a slot that could used for a "better" class).
The good news? You are a respec. away from being a high demand healer or tank. I need to work on those sets of gear!