Now, you will immediately notice that the better the ingredients are that you have to make your talismans, the better they will be. They will be able to last longer, have more power, and provide a better buff. But, the quality of a talisman all depends on what you put into it when you are creating it. For some reason, no one really quite understands yet if it is just the fragment quality or the quality of all of the ingredients that you place in the pot that yeilds a better quality talisman. (So, personally, I go with as many higher quality ingredients as I can so that I get the best talisman possible.)
Here is a basic list of how the quality of your talisman affects the duration that they last:
White Talisman lasts 8 hours
Green Talisman lasts 2 days
Blue Talisman lasts 5 days
Purple Talisman lasts forever (this is the highest quality talisman that you can make and will sell for a ton on the auction house)
For some reason, the quality of the curio also seems to help the critical rate, which helps you craft your talisman up to the next quality level. (In other words, instead of a green talisman, you get a blue.) But, you need to be careful with using your curios as you can waste them if you are using them on a talisman that will only yield something lower level. So, be cautious on where you place them.