Hi there
So far as for a list of all totems and their actual powers that i cannot give you right now. But heres what Ive seen so far related to them.
As you stated, totems are put into activable slot. You use them just the same way as you would use potions and such. They DO have a time limit, from what ive seen so far its 15 minutes. And still from what ive been seeing up to now, they each grant a different power depending on the animal they are imbued of. It appears as if some will actually turn you into that animal and some wont (maybe a level restriction here ??) Like yesterday i used the fish one (sorry forgot how its called and im at work right now). I got underwater breathing for 15 minutes but had no toon transformation at all (was a 25 templar at the moment). Ive heard of people turning into wolves using the wolf spirited ones.
Well hope that little info helps, ill be sure to post here if I find out more myself.
Have fun