I think allowing it or not really depends on the campaign for me. I'm DMing a high power campaign right now, but will be switching to a very much toned down one later this year.
My current group has a Focused Conjurer (AJ ACF), an Aasimar (LA bought off) Cleric/Ordained Champion, and a Lion Totem AND Wolf Totem Barbarian/"Lion Warrior" (Bear Warrior variant)/Warshaper. The optimization level of this game is high, this also goes for feat and spell selection. We'll probably finish the campaign around 10th or 11th level.
My next group will consist of non-multiclass PCs only, namely a Ranger (archer), a Warlock, and a Shapeshift Druid. That game is E6, in a low-tech setting (no metalworking...).
In the first group, Abrupt Jaunt isn't even an issue. It's just one of the many nice tricks the players have up their sleeves. The Barbarian can instakill anything he can charge or transform into a celestial lion, the Cleric has lots of Devotion feats, spams smites, and has a Wildshape Ranger/MoMF cohort. The Conjurer? Jaunts. No biggie.
In the second group, we're starting at level 1, and fighting is going to be rare and deadly at first. Jaunting around and laughing in the face of danger would be really unfitting for that campaign. To be sure, I also restricted playable classes (no Wizards, among other things).
I guess my point is: whether a thing is overpowered or not depends on the environment you're using it in. Abrupt Jaunt would probably be tier 1, if there were tiers for class abilities, but that doesn't mean it's unmanageable. Personally, I think familiars are tier 1, as well.