You can't use regular potions when the effect is active, so unless you have at least 300 hp regeneration per second or other ways to heal for the next 13.5 minutes, you will die if you drink this potion. Combining the effect of high regeneration and a combination of "Heal Self" and "Heal All" you may be able to avoid dying from drinking the potion.
Any +x% Potion Effectiveness will increase the Health loss.
As long as the potion is inside the player inventory upon entering the map and the player resets with "Quit to Main Menu", it can be used an unlimited number of times.
Drinking Sweet-Aide inside a town and respawning per "Quit to Main Menu" and allows the player to discard any and all events that happened after entering said town, like enchanting, gambling and spending skill points. However, any changes to the Shared Stash are not reset. This allows a variety of exploits.