Pretty much everything sees through normal invisibility in Ashengate, however, this clicky item appears to hide you from everything in Ash!
So you've a minute to leg it to your destination.
I've tried this a few times. In the North Wing I've got to the lava lake at the end and on the the East Wing I got to the Eggtenders before invis dropped, wow those mobs are sure packed tight along the route but I glided past them.
Nice item, shame it's lore and single charge.