This item describes itself as a teleportation device used to transfer the player between void portals. What it means I currently don't know, but i will update this page when I get the materials to find out.
Update: The Void Braclet is able to send you to portals you have built using the Arcane Seal.
In order for this to work you need a few things. First you need 2 Arcane Seals and a standing 3x3 surface to put them on. Now, I'm not sure if any other block will work for the surface, but for safety, I used Eldrich Stone. Plain and simple, just make a 3x3 surface as if you were making a Nether Portal.
Once that's done you need two more things: Runic Seal: Magic, and Runic Seal: Air. For those who don't know, these can be made as follows:
Runic Seal: Magic>>> (Normal Vis Crystal+Gold Nuget+Nitor) in the Thaumic Infuser.
Runic Seal: Air>>> (Yellow Vis Crystal+Gold Nuget+ Nitor) in the Thaumic Infuser.
[Arcane Seal: (Gold Ingot+Redstone) in the Thaumic Infuser) Almost forgot this recipe.]
You Should get two of each once the process is done.
Now you should have everything you need. (The void bracelt isn't needed in the yogbox version[10:19 A.M. UTC -6; 2/26/2014], but I don't know about other versions of thaumcraft.) Go back to one of the walls you just finished and place an Arcane Seal in the center of it. Now make sure you do this in exact order, otherwise you will end up with some other kind of seal. You need to right click on the Seal you just place with a magic seal, then an air seal, and in that exact order. So one more time; Arcane Seal, then Runic Seal: Magic, then Runic Seal: Air. Once you finish that one, repeat the process on the other wall, and you should have yourself a working portal to travel long distances.
You're probably asking why I bothered to explain all this without mentioning the void braclet yet. Well that's right here. Now that you have those portals, make or take out your void braclet. Just for sh&%s and giggles, run as far away from your portals as you want, then right click with your void braclet. If it all worked out, you should be standing in front of one of the portals you just finished.