I dont know if this is posted but here you go (if its posted already then delete it)
Typically, when you use Transmute: Living Elements, you will receive 14-16 random Volatile elements (Volatile Air, Volatile Earth, Volatile Water, or Volatile Fire) in exchange for 15 Volatile Life.
If you use this transmute while in one of the new Cataclysm zones associated with the Elemental Planes, however, the element into which your Volatile Life will transform will be predetermined. For example, if you use Transmute: Living Elements while in Uldum, you will always receive Volatile Air for your efforts.
Mount Hyjal: Volatile Fire
Vashj'ir: Volatile Water
Deepholm: Volatile Earth
Uldum: Volatile Air
Additionally, alchemists with Transmutation specialization will have a chance to receive bonus Volatile elements when completing this transmute. The bonus will be random, though, regardless of which zone you are in.