Lordearon - Instance Lockout timer

Hey, so I was wondering if anyone had some concrete info on normal instance lockouts. The way I understand it right now is you can only do 5 normal instances in an hour, but there isn't a timer to look at or anything.

Scenario:
-1st dungeon at 1:00
-2nd at 1:10
-3rd at 1:20
-4th at 1:30
-5th at 1:40
-Lockout

Questions:
1. At 2:00, does is all reset so now I immediately have 5 open instance slots? or does only one slot open?
2. Do i need to relog to reset the lockout?

1. Only 1 will reset. Each of them resets exactly 1 hour after you enter that instance.
2. Relogging does not reset it. It's even shared between all characters on the same account.

Interesting. Didn't know it was account based. Thanks for the Info!