New Hastened Leap AAs were added in the March 9, 2011 patch. Due to a bug, some people have been reporting that they get an error message when they attempt to Leap.
The error message says you can't leap because the recast is [something like] 1193046 hours.
In this thread on the SOE forums, the issue is discussed and it is currently suggested that if your Leap is bugged you should petition.
However, many GMs and other customer service personnel are unaware that this is a bug in the game, and not on your system. Elidroth Renato (Doug Cronkhite), EQ Game Designer, has stated that he has sent an email to them describing the issue and you should tell them if they have any problems to contact him directly.