Well, what really makes that combo so effective is the Mark of Tzneentch. If you'll read its description on the page about our Psychic Powers, you'll see that the Mark of Tzneentch allows you not only to cast two powers per turn, but two powers per player turn. So if you paid for both of those powers you start by casting Warptime and then if you like you can cast Wind of Chaos and you'll get re-rolls on it when you do, which really lets you make some serious devastation.
Another cool thing about this set-up, is that you can cast Warptime at the start of both your turn and your opponent's turn, which can be really really helpful for those long, drawn out combats you might run into if you get assault or you didn't break/kill the enemy on the turn you charged. Also, so far as I'm aware at least, if you happen to fail your first check for Warptime, you can just cast it again (and hopefully pass the check this time) - this can be a big help if you're really in need of a CC boost.
I hope all this stuff helps, sorry I don't have my codex so I can't give out specific page numbers but take a look at our Psychic Powers page and I think at the very top left you'll find the Mark of Tzneentch as it pertains to casting psychic powers as well as all the powers so you'll know which ones can only be used in your turn (shooty ones like Bolt of Change or Wind of Chaos) and which ones can be used in any turn (like Warptime).
Edit: As a quick side note, Daemon Princes with the Mark of Tzneentch can use two shooty powers (as they are monstrous creatures) per turn if you like, but you can't double up in the same turn (so it'd have to be Wind and then Gift or somesuch, not Wind and then Wind again)