Quote Originally Posted by Starfall View Post
PUG Abl. 4: Increases evasion and restores MP when an attack is evaded. Effect fades upon evading an attack or after a certain period of time elapses.

See bold red text
That text does not imply that we get mp back after it fades, but it could have been translated wrong, it seems to be the same skill as feather foot we have now, so it could work the same way as it does now.