No, just because you drink it doesn't mean the target is any different. It remains "a point in space". So when you drink the extract, you become the point in space for the alarm spell. If you move, the alarm spell does not move with you, however, as it is not anchored to you but rather the place you were standing when you drank the extract.
I dunno about that
Although the alchemist doesn't actually cast spells, he does have a formulae list that determines what extracts he can create. An alchemist can utilize spell-trigger items if the spell appears on his formulae list, but not spell-completion items (unless he uses Use Magic Device to do so). An extract is “cast” by drinking it, as if imbibing a potion—the effects of an extract exactly duplicate the spell upon which its formula is based, save that the spell always affects only the drinking alchemist. An alchemist can draw and drink an extract as a standard action. The alchemist uses his level as the caster level to determine any effect based on caster level.
The spell can only affect the drinking alchemist.
The way extracts work, it makes more sense to me that the effect would reside within (and even be moved along with) the alchemist.
Does this lead to a weird circumstance where you can have a mobile invisibility detection barrier? Sure. But, it doesn't let you know where they're at, just that they're there. I don't see too much of a problem with this, even if the spell wasn't written to take such actions into consideration.
I'm not saying it's definitely one or the other, but I'm leaning towards the effect being inside the alchemist not a point in space.
If you go by the bolded text the Preservationist gets weird
If you go by the bolded text the Preservationist gets weird
That is a weird archetype if you take the sentence I bolded literally. Fortunately, the archetype sort of covers that by saying that it otherwise works as summon nature's ally. Which should chnage how those particular extracts work, in regards to only working on the alchemist.
I only just noticed this last night. Found it odd that they put invisibility alarm but not alarm on the alchemist's spell list. I'm guessing this might be a reason.