If the league is set on keeping 4 divisions (2 per conf) then there is really no choice but to move Arizona into the Central or move them to Houston. Another option here could be to move the Florida Panthers to Houston and slide Nashville over to the Eastern Conference.
What makes the most sense is to create 8 divisions (4 each conference). AZ will always get screwed with time zones but the players are adults so they should be just fine plus Colorado is only an hour difference if not same time zone at some points throughout the season. There are ways to schedule these games that are in different time zones like maybe try getting weekend games or holidays.
I believe they should re-align to 8 total divisions. Also think they need to name the divisions instead of just North East South West.
Norris
Minnesota, Chicago, Winnipeg, Nashville
Smythe
Vancouver, Edmonton, Calgary, Seattle
Betteman
San Jose, Anaheim, LA, Vegas
Dunlop
Colorado, St. Louis, Dallas, Arizona
Adams
Ottawa, Montreal, Toronto, Buffalo
Patrick
Boston, NY Rangers, NY Islanders, New Jersey
Hanrahan
Pittsburgh, Philadelphia, Detroit, Columbus
Jaws
Florida, Tampa, Washington, Carolina