It looks like it would let you make a muatagen with only the powers listed on the attached table if you did not otherwise have the ability to make a mutagen. So a rogue for example could make a useless mutagen once per day.
Considering you only get the abilities the trait lists, that is none, it is useless by definition. It never tells you to consult alchemist for effects of your mutagen. If you already have access to a mutagen, this clearly modifies it. But with no other definition of mutagen referenced for my hypothetical rogue, I get no benefit from what the table in the trait lists.
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You discovered or were given a secret to make your mutagens more unstable—but also more potent.
Benefit: Once per day, you can create an unstable mutagen. It is like a normal mutagen in most ways, but also gains a single benefit or hindrance due to its instability. Roll 1d6 to determine the result of the instability.
You gain the normal effects of a basic mutagen plus whatever effect you roll on the table.
You do not already have to be capable of making Mutagens in order to make the unstable mutagen.
So what are the effects and duration of a first level rogue's mutagen?
I don't see where the trait gives you an effective alchemist level for duration purposes.
or only people with mutagens can make unstable mutagens.
A balance point as well, think of what this does for a low level barb, best combat trait ever.