Failed touch skills do not count as used considering recharge time, so they can be recast immediately. However, energy, adrenaline costs and exhaustion work as usual.
Consider using with skills that require the user to be under the effects of a shout, such as Soldier's Fury or Soldier's Defense.
Trivia[]
This skill was actually conceptualized by members of the Guild Wars Guru forums. The original thread with the idea can be found here.