Zone will reset itself if all group members leave. There is a quest inside called Save the Pirates!, which must be completed to finish the zone the first time around. This quest cannot be repeated.
Be warned that you must pass a linked group of six level 22 mobs. The access quest on the ship level 25 for a reason, it's foolish to enter the island before that.
The problem with this zone is even though there are groups of down arrow, not-heroic-marked mobs, they put tons of debuffs on you and tend to auto-aggro and chain-aggro even if you are body pulling. The entry on the dock is the hardest thing to get through without pulling three or four groups to you, which wouldn't be a problem if not for the tons of debuffs and dots they put on you.
If you are killed, you return to the Smarmy Sprocket where you can only once again pull the lever to return to the instance. In order to leave this loop you must click the tiny ladder at the end of the dock to return to your home city.