First some numbers. If you combine this with Chthonian Stone and a reasonable bag, you might have 4 out of 15 tokens that cost a charge, meaning this will last around 26-27 draws on average.
On the plus side, this card provides a shield against the dreaded auto-fail token that no other card matches. You could potentially protect everyone in a 4-person party, no matter where they are located, from auto-fail for 3 full rounds. From that perspective, it seems like a pretty powerful effect.
The problem, and the reason I find this card hard to like, is the extreme cost for each failure you prevent. You are probably going to prevent 1-2 tentacle draws by playing this card, at a cost of an action, 4 resources, and a 5 XP cost card. That could be worth it to cancel tentacle draws at really bad times. But you can’t control which tentacle draws you are preventing; a lot of the time, the auto-fail you are preventing, would have come during an investigate check or some other task with no great penalty for failing other than losing an action (or worse, during a treachery skill check you end up failing anyway). And the benefit of not losing 1-2 actions is tiny compared to the heavy cost of this card. You really need to prevent an auto-fail with a heavy, heavy penalty for failure, in order to justify the cost of this card.
And while no other card quite does what this does, there are other ways to protect against auto-fail that are an awful lot cheaper. Such as Time Warp, for example. And while the comparison isn’t a direct one, it is worth mentioning that Father Mateo’s special power does a better job of stopping really important auto-fails than this card, yet it isn’t even that great of a power.
It seems like the time to use this card, would be when the party is about to perform a series of critical actions, every single one of which absolutely has to succeed, and the party is spending a ton of resources to make sure they all succeed, and needs to guard against the auto-fail. Kind of specialized in my book for a 5 XP card.