[MunchkinMan]

The card does not say "usable once only," and the text you are referring to which says it's not a one-shot Item makes it doubly clear that this was not a mistake. However, nowhere on the card does it say that once you use it, you return it to your hand. It is an Item you keep in play that gives you a +1 Run Away bonus, and not something you can claim to use repeatedly to get an infinite Run Away bonus. Also, since it is not a one-shot Item, you can not play it from your hand while in combat or Running Away to get the Run Away bonus; you must have already had it in play before combat started.