Considering how powerful it is, it just means that you have to have very good timing and, more importantly, DESPERATION on your side when you use it. That being said, yeah, I expect the answer to be in the positive-it is reusable.

You know what I want in new items next time? I want an item that can protect specifically from weapons. Not the rolls or Slow-Action, but specifically weapons-Spear of Revenge, Challenge Trap, Chu hammers, and the Syringe cannot target a person with this item. The Nuke is exempt, but of course. I'd make it like an immunity-it only does so for a limited time (though perhaps somewhat longer than a typical immunity because you are still totally vulnerable to being Chu'd by the roll or by pre-existing Slow-Action).