WoWDB

As of Patch 7.0.3, the item no longer sends the player to the Grim Guzzler room.  It now sends you to the beginning of the Blackrock Depths dungeon.

Prior to Cataclysm, having this item guaranteed a group invite to go kill Direbrew. The remote was a great convenience when players had to fly (using flightmasters) to an outpost in Burning Steppes, run into Blackrock Mountain, enter the Blackrock Depths instance, and run through the dungeon until the group reached The Grim Guzzler area.

Now, I just use it when I want a quick means to reach the raid instance portal for Molten Core.