Cool down
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From Diablo Wiki
A "cool down" is a time during which a skill or other game feature can not be used again. Many skills in Diablo III come with cool downs, especially when used in the Arena.
The Wizard's Teleport, for instance, has an 8 second cool down at level 1. This means that after using Teleport once, it can not be used again for 8 seconds.
Other game elements have cool downs as well; health potions chief amongst them.
Cool down timers are shown visually by the icon going grayed out, and regaining color gradually, as a second hand-like line sweeps around it, clockwise.
