The security token is something like a coded watch. It ticks every so often (like a watch) and gives you a number. That means it's constantly running and will run out of battery similar to a watch. The battery for these are usually large and can last for a few years unless you constantly press the button to make it shows the numbers. However, the quality of the battery leaves a bit to wonder as it's made in china and I don't have many good experience with china made electronics. On the other hand, I have opened a similar token before and it's possible to replace the battery. You might have to reset it and sync it again with SE (like syncing a watch with your current time).
While the token is fairly secure, it's not going to miraculously preventing you from getting hacked. I'll give you an example. Suppose you have a keylogger on your PC that can interfere with POL. You log on, type in your 6-digits and the keylogger steals the digits while crashing your POL. So you can't put in new digits to prevent a log on until you can get rid of the keylogger. On the other side of the world, the criminal now has a fresh 6-digit code every time you attempt to log in. Thus he can log in and steal all your stuff. The whole process of stealing all your valuables take about 10-15 on your main if he just throw away the rare/ex and load your character with valuables and teleport it.
A clear head will go much further in protecting yourself in the hostile internet.

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