Dizzy is a state that can be applied with a variety of attacks from varius professions. It is a high defensive debuff and a mild accuracy debuff. As such, they will take more damage and deal less with each attack.
This state can be cured by a Medic with Stabilizers, or it can be recovered from.
The Squad Leader ability Form Up (Ability) removes dizzy from the group if he is leader of the group as long as he himself is not dizzy.
Current implentation status in publish 17: not noticeable, no conformation from the DEVs.