I like this one overall, but I'm not fond of how "time lost" is written. I am probably overthinking it, but I think it might be difficult to know when to use it if your gm is one that makes all rolls in secret. Or heck, just adds fast and has the target number memorized.
Taking a page from 5E, I would phrase the last paragraph like this "You may use your strange link to the flow of time to choose between different timelines. Once per adventure, you may force the DM to roll twice, and take the worse of the two rolls. You may declare usage of this ability at any time, up until the DM annouces the result of the triggering roll."
Written this way, it works similar to the previous version, but allows you the convenience of deciding a certain roll is critical to you without actually needing to see the DMs rolls, so you don't accidentally throw away a natural 1 on the DM's die.
...or you can go the "not overthinking things" path and just let the player declare they're using the ability after the DM says the result of the roll, as long as it is immediately after.