My ‘old school’ Kraken team (spider, kraken, kraken, spider) wins about 75% vs the bad meta. I think any good Kraken team will do about the same since you have the advantage of going first.
But if you’re just sick of Krakens:
• Borealis is a great troop vs the loopers, provided you can fill her mana one shot and they’re all frozen, no looping for awhile! Or you can field your own Mab and freeze their team first.
• If you don’t like to freeze them, try troops that stun-- Stonehammer, Manticore, Wandering Monk, etc
• Mana-drainers can be helpful as well-- Manticore from above; Spirit Fox is rather limited but comes fully-charged, will put off the loop attack for a turn or two allowing you to fill other troops. A fully-traited Psion up front (steals the Troll mana on a skull hit) is as effective here as it is elsewhere. Emperor Korvash drains AND stuns first two opponents.
• Beyond that, just make your team as fast as possible. Mana-fillers like Gorgotha or Ragnagord or (hehe) various Trolls are essential when building an anti-Troll/Kraken team.
• Also, putting an undevourable troop in spot 4 will slow down a kraken attack. I like Euryali for this job, but plenty of non-mythic troops can do the same for you.
Short answer: there are a dozen ways to beat this team.
I don’t find Troll-Kraken-Mab scary at all anymore, just really boring!
PS-- Play strategy is also important. Focus your fire on the troll! Krakens aren’t so great if they don’t have a feeder.