Damn this is a hard one. Haha.
Personally I would back King's Rock
White Herb negates the defense drop, allowing Cloyster to get a Shell Smash off with no drawbacks, and keeps it's excellent defense at high levels allowing it to take priority attacks like Mach Punch Breloom when healthy.
King's Rock on the other hand, gives each of Cloyster's hits a higher chance to flinch, which can be very gamechanging and rage inducing. Which is fun :3
So why King's Rock?. Utilising King's Rock gives Cloyster a 41% chance of flinching the opponent when using Rock Blast or Icicle Spear. That's a pretty good amount. Additionally, unlike White Herb, King's Rock still has uses on an unboosted Cloyster, and even if Cloyster is forced out, it can be used after, which unlike White Herb dissapears after one time - which means if Cloyster is forced out, you're itemless. Also Smogon's Gen 5 page prefers King's Rock :P.
Anyway, they're both still solid choices along with items like Focus Sash which help setup. It's up to you which one to choose, as this is just my personal opinion, and you can try both and see what works for you better.