Thank you for being patient while we discussed your suggestion!
Unfortunately, we have decided to decline it as we feel the warpkeybag cooldown is currently adequately long. The current time limit is fine because it prevents players from warping around infinitely and abusing the warp system. In our opinion, the time limit also isn't very long as 10 minutes pass quite quickly if the player stays busy, for example while doing quests or exploring, which is encouraged by the longer cooldown.
If players think about and learn when to use and not to use their warpkeybag, we believe that the cooldown will pose far less of a problem and it will be less annoying to travel around with it. We understand that it can take some time to get used to this, however we believe that with time this will improve.
Nevertheless, thank you for taking the time to make a suggestion. We really value it and hope you will make more in the future!
Take care and enjoy your day!