If a triggered ability is linked to a second ability, additional instances of that triggered ability are also linked to that second ability. If the second ability refers to "the exiled card," it refers to all cards exiled by instances of the triggered ability.
You must follow all normal timing rules for Bird spells cast and lands played using the middle ability and must pay all costs for spells cast this way. To cast a spell this way, you may choose to pay any alternative costs or optional additional costs the spell may have (such as a kicker cost). You must pay any mandatory additional costs.
The top card of your library isn't in your hand, so you can't cycle it, discard it, or activate any of its abilities that could be activated from your hand.
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If the top card of your library changes while you're casting a spell, playing a land, or activating an ability, you can't look at the new top card until you finish doing so. This means that if you cast the top card of your library, you can't look at the next one until you're done paying for that spell.
Traveling Chocobo lets you look at the top card of your library whenever you want (with one restriction—see below), even if you don't have priority. This action doesn't use the stack. Knowing what that card is becomes part of the information you have access to, just like you can look at the cards in your hand.
Abilities that apply "as [this permanent] enters," such as choosing a color with Crossroads Village, are also unaffected.
In a Two-Headed Giant game, Traveling Chocobo's second ability does not affect triggered abilities of permanents your teammate controls.
Replacement effects are unaffected by Traveling Chocobo's ability. For example, a Bird that enters the battlefield under your control with one +1/+1 counter on it won't receive an additional +1/+1 counter.
In some cases involving linked abilities, an ability requires information about "the exiled card." When this happens, the ability gets multiple answers. If these answers are being used to determine the value of a variable, the sum is used. For example, if Clive's Hideaway's hideaway ability triggers twice, two cards are eventually exiled. The last ability of Clive's Hideaway will allow you to cast both exiled cards without paying their mana costs (assuming you control four or more legendary creatures at that time.)
If you control two Traveling Chocobos, a land or Bird you control entering causes abilities to trigger three times, not four. A third Traveling Chocobo causes abilities to trigger four times, a fourth causes abilities to trigger five times, and so on.
If a land or Bird you control entering at the same time as Traveling Chocobo (including Traveling Chocobo itself) causes a triggered ability of a permanent you control to trigger, that ability triggers an additional time.
Traveling Chocobo's ability doesn't copy the triggered ability; it just causes the ability to trigger an additional time. Any choices made as you put the ability onto the stack, such as modes and targets, are made separately for each instance of the ability. Any choices made on resolution, such as whether to put counters on a permanent, are also made individually.
Traveling Chocobo's last ability affects a permanent's own "enters" triggered abilities (as long as it's a land or Bird you control) as well as other triggered abilities that trigger when a land or Bird you control enters the battlefield. Such triggered abilities start with "when" or "whenever." Some keyword abilities also include a triggered ability that happens when a permanent enters the battlefield.
