Cooldown time means that if the camera triggers a motion event, and there are other several motions following in a very short time, the camera will have a cooldown and won't trigger and record other events to the Cloud in 5 minutes.
The 5 minutes cooldown period is designed to avoid receiving constant notifications, you could still check all the missed motions by reviewing your CVR history. And you could choose to purchase Event Recording service to change to cooldown time from 5 minutes to 0 seconds:
Notes: Battery camera(Vigil plus/Sentry plus and Birdfy cam) doesn't have Continuous Recording service, because it will be standby mode if no motion is detected.