The item IS useful.
You can change where Path of Asura takes you by talking to certain NPCs. So you could use Path of Asura to warp to, say, Cimmeria... and then use Totem of the Origins to warp to Stygia (or whatever race you are).
You can only use Totem of the Origins once every 24 hours. I tried using it and the loading screen locked up, and I couldn't use it again. I'll see what happens when I try it again tonight.