Update: Suggested Alternate Co-ordinates 32 13.874s X 151 47.354e (~9m accuracy) 9/7/14 Winner of April 2012 Best Cache Award:
http://www.geocachingnsw.asn.au/index.php/geocaching/what-is-geocaching/182-geocache-of-the-month-april-2012 Thank you Unibolt for the nomination and Geocaching NSW for the Award.
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Telegherry Tantalizer is perhaps on of the most beautiful locations I have ever had the pleasure of enjoying. 
It is in a very deep gorge (a real signal stopper) in the South Eastern corner of the Chichester State Forest. It is a cascading torrent of separate rock pools at the base of the Black Bulge Range (5377 hectares of unique forest), known for its magnificent stand of ancient grass trees, 31 threatened or significant Australian native animals, amongst which are Koalas, Glossy Black Cockatoos, Parma Wallabies and Quolls. This location is not far from where the Telegherry flows into the Karuah River and has the easier nearby caches of Monkerai Marvel (GC75F1), Hounddogs Bone (GCD08F) and the famous Frying Pan (GCF1).
I strongly recommend you use a 4WD vehicle with good traction and/or clearance. Otherwise bring sandshoes and a bottle of water for a 3km round trip ([EDIT]From the south) in and out from a reasonably accessible crossroad at the base of Black Bulga. A good turning circle would be handy because the timber bridge at the end of the track is washed out. This track is nearly fully overgrown. Attempt at your own risk, or walk it.
Once you have found the rock-pool pictured below and confirmed the location is correct the cache is hidden on the Northern bank from the big rock you can cross the creek with below. Try not to trample the mosses and beautiful ferns along the edges. If you can be sure to include the photo of your dip.
Distance and direction are available in the decrypt should you need more help. 
Background- A couple of months ago from the release of this cache, Numby, Nads and I happened upon three rather unclad hippies enjoying the solitude of this beautiful rock pool. I was later to find another 8 or so camped under some nearby shade trees overlooking the rock pools and the cache, just hidden. I was hesitant to release it until I was sure they had not seen me place it and that it could handle to continually wet environment. I returned with Drewin and Dunny this weekend to find the cache in perfect condition. These hippies almost got their HQ holden to with 300 meters of ground zero. Note: I said almost and there were 11 of them.
Enjoy-
The Bronze.