It said the timer would reset each day or something along that line, I think they mean the amount of times you can time out or withdraw from queue.. It would be flat out stupid if the person was locked out for more than 30 minutes and hurt SE in the long run.

I believe after the third one and each after that you'll get a 30 minute cool down and that would reset at the end of the day so you would no longer have the 30min cool down the next day unless you did it again.

Consider this: many people will e leveling ninja and want to finish their almost done fate or levequest while sitting in DF queue. only to not make it in time. So I think you'll just get a 30 minute lockout. No be locked out from dungeons all day.