Yes, the characters will see different things depending on what they did, but it doesn't matter for WHERE the phasing happens.
Have one team member stand in front of Habashy [248.2, 16.1, -475.9], have another member due west at [638.5, 0, -475.9]
They'll still be green. Now have them hop the fence [641.2, 0, -475.9]
Now they're grey and tp friend becomes invalid target.
Interesting, Incan & ATT still work, so maybe we can get Teleport Target to work.
Screwing around, if you target a mob on one side of the fence and then go to the other side, they fade from view and deselect. Even more fun, if they run to the side you're not on, they fade out, but if followed, pop up again. (Fade out depends on what side they start on)