When you right click this, after the cast time, it will pop up a message asking if you are sure you want to be teleported to the location of your anchor. You have a limited amount of time to say Yes before this box disappears (about the same time as a rez box stays up; maybe 30 seconds or so). If you do not say yes in time, the box will disappear AND the item timer will start. I.e. you will not be able to click the item again for 72 minutes - regardless of whether you ported or not.