Ahhh... the smell of herbs and debate in the air!
Just to add to the mix (and clarify a bit)
Frankensense and Myrrh - A potent blood invigorating pair (Mo Yao and Ru Xiang) not for binding anything at all - just breaking up stasis.
Dipsaci Asperi - Xu Duan - a Yang tonic, Xu Duan translates to "connect what is broken", referring to its near miraculous ability to heal bone and ligament injuries.
Radix Pseudoginseng - San Qi - also a potent blood invigorator, may be used internally or externally to stop bleeding and to remove stasis (like a bruise). There's no relation at all to the tonifying functions of other ginsengs - this herb is specifically used for healing and invigorating blood... don't substitute it or else you lose one of the most important Dit Da herbs in your formula.
Carthamus - Hong Hua is a flower, not an oil (although I know what you're talking about, DJ) in this formula and is also for tonifying and invigorating the blood. Usually it is paired with Tao Ren (semen persicae) to powerfully break up blood stasis... given Tao Ren's absence, I'd say this formula is to be taken internally. This is further reinforced by the presence of ginger root (sheng/gan jiang) which is used mostly in formulas to 'warm the middle' - i.e. offset the coldness of the other herbs on the stomach and further invigorate.
Seems like a good formula to me to encourage healing, strengthen bone and reduce soreness after training.... if you take it to a Chinese herbalist, he/she should be able to prescribe the dosages appropriate to your constituion.
good luck!
herb ox