Does anyone know what this does?

I'm assuming that the effect lasts for as long as there are tracking tokens on the ability, since that seems to fit the design model, and makes sense for those cards that give the GM the option to remove tracking tokens from a player's card (otherwise, why would he ever choose to remove them instead of adding them?) Unfortunately, I can't actually find a rule for this anywhere.

Unfortunately, I just found the Shadowcloak card which is not "ongoing" yet describes an effect that lasts until the recharge tokens are gone. Now I really am confused as to how "ongoing" is supposed to work. Maybe it has to be maintained with a maneuver? Possibly it simply lasts until the caster dismisses the effect? Anyone know?

It's just a trait that can interact with rules or other action cards. It's not an effect, just a keyword. There is, for example, another action card that cannot affect 'ongoing' cards.

Thanks, I was aware that traits weren't supposed to have any effect, but then there's the whole issue with "Order" traits, and I somehow missed the words "while this card is recharging" on the first few I looked at.

Upon more careful reading of some of the cards I find that they all have effects that last "while the card is recharging". Curious though that Shadowcloak doesn't have the Ongoing trait. I suspect that it may have been left off in error.