Basically, and I can be totally wrong, what it looks like is you send a rate limit request stating I'm doing 1 hit, I can do 100 hits a minute, am I over limit? Gubernator responds with either a status 0 (no, under limit), how many requests you have left, and the time the rate limit will reset. Or it will return 1 (yes, over limit), the time the limit resets, and you then have to hold your request until the reset time.
So you could use this as a self imposed rate limit for external services. I think the confusion is from the announcement, it sounded like this was a proxy type service that would hold your request until the limit was met. From what I read, it looks like you ask for the rate limit status, then its up to you to actually limit your requests.
Egress limiting – Blasting external SMTP servers with millions of messages is No Bueno.I'm not sure how it would be possible to do it in a "library" (without external centralized storage).
Consumption of available requests is maintained statefully in RAM. If your Gubernator goes down, the quotas are effectively topped back up when Gubernator returns from the dead, upon next request from that client.
Etymology of Latin "guberno": From a non-Indo-European Mediterranean language; akin to Ancient Greek κυβερνάω (kubernáō).