This is a fully functional breakpoint that works from any recursion depth. When the breakpoint is executed, the current cast will immediately stop, leaving the stack (and ravenmind) intact with the addition of a new [Jump] iota. To resume execution, just trigger the [Jump] using Hermes' Gambit. For easy usage, I'd recommend inserting the breakpoint code into your spell list using something like Robo's Scalpel.
To make this spell, you'll need a [Jump] iota that leads to nothing. To create one, make a list containing Vacant Reflection followed by Iris' Gambit, and execute that list using Hermes Gambit. You can then inject the jump-to-nothing into the actual breakpoint spell in place of the red marker.