"Precise Strike (Ex): At 3rd level, as long as she has at least
1 panache point, a swashbuckler gains the ability to strike
precisely with a light or one-handed piercing melee
weapon (though not natural weapon attacks), adding her
swashbuckler level to her damage roll . To use this deed,
a swashbuckler cannot attack with a weapon in her other
hand or use a shield. A precise strike only works against
living creatures with discernible anatomies. Any creature
that is immune to critical hits is also immune to a precise
strike, and any item or ability that protects a creature
from critical hits also protects a creature from a precise
strike. The extra damage of precise strike is precision
damage, and isn’t multiplied with a critical hit.
As a swift action, a swashbuckler can spend 1 panache
point to her precise strike’s damage bonus on the next
attack. This must be used before the end of her turn, or
it is lost."
Does this ability apply all the time as long as you have one panache point or does it only work for 1 attack after after you use a swift action to spend the point? If it applies only when you spend the point, the as long as section should probably be changed to "as long as she has at least 1 panache point, she can spend a panache point as a swift action to gain the following benefit for her next attack"
The main issue here is from the second bolded sentence. "Can spend 1 panache point to (Should be a word here) her precise strike's damage bonus on the next attack."
If the word is "apply" (or something similar) it would make it somewhat clearer that the above questions answer is that the ability only works for 1 attack after you use the swift action.
If the word isn't "apply" (or something similar), the ability functions all the time and the swift action augments the ability by spending a point. In this case I would guess the word should be "Double" or something like that to get a damage increase after spending the point and swift action, and normally you just get your level to damage if you do not augment the ability.
