The quest is repeatable, but there is 1.5 hour lockout timer on the zone.
You need three "Trust" points with the Splitpaw Gnolls to advance to the the final azure shard quest. Completing this quest will give you one point.
If you are attempting this quest with people lower than level 50 and higher than level 60 (ie somebody level 44 and somebody level 61) you will be unable to zone in while grouped. To work around this, disband then have the lower level person enter the zone first. Then group together and the higher level person will be able to zone into the same instance as the lower level person. Your level will be force mentored to that person and you will not be able to unmentor. Mentoring while in the Splitpaw Den will not work. The only way to enter the instance with somebody within the level 20~50ish range and somebody above that level range is the method described above.