I've done this a number of times and feel i have a pretty decent strat for this now, want to share.
-Kill Order- this ones pretty easy, when you walk in after speaking to Waves of Saffron Sky (be invis) you can look around the room and see the portals, earth is kind of a green brown color, air is white, fire is fire(obviously), and water is blue. Count them, whichever one has seven portals is the mob you need to kill. Recount the portals after killing each mob.
-How to get there- this took me a few runs to get down. As you stand at the entrance, that first platform has access to 3 different portals, one directly in front of you (slightly to the left), one off to the left, and one off to the right.
--Air (Blustering) Go all the way left to that portal (not the one at the entrance), that one will get you to air after 2 jumps, maybe 3.
--Earth (Obsidian) Go all the way to the right portal, that one takes you directly to earth, one jump.
--Fire (Blazing) this is the portal directly in the center, the one right in front of you when you enter (slightly to the left), this one takes you to fire after 2 jumps.
--Water (Flowing) this is the same portal as fire, it is about 2 or 3 jumps after fire, if you have him before fire its no big deal there is some room to jump again without entering fires room.
After killing each mob the portals will all eventually take you back to the entrance platform with the 3 jump portals no mistake is possible as they all only have one option. the only landing with more than one option is the entrance platform.
Air and Water are basically tank and spank, keep your tank and healer alive and your dps can whittle them down, Earth splits at 50%, every time ive done it "SHARD" could be mezzed. Fire is the tough one. i go in invis, place myself behind one of the fire pits and tag him, he runs directly on to it. it takes about 5 seconds before he will take damage (this is true for all three platforms/fire pits). At 57% he will lock and you have to move him to another pit. At 24% he locks again, move him to the last fire pit and finish him off.