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She is revered by the great witch doctor Ral'jin. He wanted to capture many prisoners for use in a massive sacrifice for a ritual to summon Ula-Tek the Serpent Goddess. The Ironforge dwarves were concerned having seen the devastation that an elemental lord's rebirth brings. They worried that a bonafide Old God must be even more powerful. The Dark Iron dwarves, however, were jubilant. They believed that Ula-Tek, perhaps an Old God, could serve as companion and ally to . They sent a contingent to Zul'Aman to wish their good will in hopes to protect Ral'jin as he completed the lengthy ritual.
The RPG contends that there may be a connection between Hakkar and Old Gods (including the possibility that he may be the offspring of the Old Gods). Ula-Tek's backstory is similar.
Neither she nor her shrine appear in World of Warcraft. It can be assumed that the shrine is located in a separate area from the section of Zul'Aman that appears in-game.
The name "Ula-Tek" could be a reversal of the name Cthulhu (oo-lah-tek/uh-luh-tc). Note that in the movie Heavy Metal the god-creature the cultists summon is called Ullatec, with a similar reverse-pronunciation.
Some speculate that Hethiss, Dambala, and Ula-tek are variations of the same god.
Another possibility is that she is indeed an Old God. Her nomenclature is similar in style to C'Thun, Yogg-Saron and the Lovecraft characters they draw their naming style from. Given this it's possible that Hakkar is her son, but there is very little to support this at all.
It's also speculated that the giant snake tail in Gundrak is Ula-tek's tail, however, there is no proof of this at all.