The big one is that if you died and switched jobs before the time is up, you'll be returned everything you had when you died. Even if it is class specific, or a weapon you bought from a gun dealer.
It will also remove any ammo from any weapons you currently have on you when the timer is up.
These, in my eyes, are pretty big bugs. I can try recording a sample of it if you'd like clarification, but I think it's already decently known.
Subject: The NLR Timer has a few bugs