Okay, so you have to collect all the orbs within a time limit? Okay, well maybe you can try something like this:
Make it so your common event has something like this in it (paralell process called by switch "Respawn Timer"):
Wait: 999 Frames
Wait: 999 Frames
...
Wait: 999 Frames
Control Switches: Respawn Timer OFF
Put in as many waits as you want the timer to last.
And in the item events, make 3 pages:
The first page should be action button and show the graphic:
Text: You got an item!
Control Switches: Respawn Timer ON
Control Self Switch: A ON
The second page should have no graphic and be action, called by both Self-Switch A and Switch Respawn Timer. Nothing should be written in it.
The third page should be paralell process and called only by Self-Switch A. It should have written:
Conditional Branch: Self Switch A is ON
Control Self-Switch: turn A OFF
Branch End
That ought to work. If not, let me know.