Continuum Orbs are acquired by mining Continuum Ore around the Aether. When held in the hand and right-clicked it will transmute into a random item. It is possible to obtain items normally only found in dungeons, as well as tools, food, and other ores, through this method. It is also possible to acquire items from other installed mods, or technical blocks like powered redstone repeaters and flowing water.
It seems to be able to be transmuted into any items, from Phoenix Armor to water bottles and apples, and even otherwise unobtainable items such as locked dungeon blocks and cloud parachutes. It might even give back another Continuum Orb.
There are many Items you are able to get from this that you couldn't get without being in Creative mode, such as a useful Vampire Blade.