When trying to target an enemy champion using the Healing Waters ability the combat log says that it must target an "owned champion". The description for Font of Restoration says that Healing Waters will heal "target champion within 2 spaces."
Just curious. Why would you want to heal an opposing champion? Taking the fact that doing so as damage source it's very expensive and situational.
Just testing out sources of damage when a unit is decaying. On a 60 HP unit, font of restoration would do 15 damage for 35 nora and possibly be around for a second heal. As spot damage alone it is slightly better nora:damage than Lost Echoes. Not efficient, but not *very* expensive. As for situational, the rune is also available for healing your own units so it isn't like it's dead weight in a bg.
Generally, unless there is a good reason to restrict targeting to enemy only, I prefer leaving these options open. So I will look into this.