Use: An engineer with at least 1 skill in Northrend Engineering can overload the knife's battery and attempt to shock a dead ally back to life. Cannot be used in combat. (30 Min Cooldown)
"Includes Gyromatic Micro-Adjustor, Arclight Spanner, Jeweler's Toolset, Blacksmithing Hammer, Back Scratcher, and Whirly Thing."
The cooldown is tied to the engineer, rather than the device itself. This means that a Gnomish Army Knife can be lent to another engineer for a separate attempt.
Patch 5.0.4 (2012-08-28): Flavor text updated. Use text now says "an engineer with at least 350 skill" rather than "a grand master engineer". Now functions as a Jeweler's Kit and grants +10 Mining, Herbalism, and Skinning skill.
Previous flavor text: Includes Gyromatic Micro-Adjustor, Arclight Spanner, Flint and Tinder, Blacksmithing Hammer, Mining Pick, and a Skinning Knife.
Patch 3.1.0 (2009-04-14): No longer serves the function of [Flint and Tinder], as it's no longer required to make a fire.