Update on my problem and perhaps something useful for you as well.  I looked closely at my power settings for the bluetooth port in my device manager and I noticed that it said "turn off after period of unuse to conserve power".  Well, it was a check box.  Anyway, I unchecked it and I have not have the problem since!
I own a Dell Travel Mouse WM524.  I have a Dell Inspiron 15R 5537 (laptop) operating Windows 7 Home Premium.  I purchased both of these products in February 2014.  I have successfully added my Dell Travel Mouse WM524 to my list of bluetooth devices and I have never had any sort of error messages in regards to its pairing with my Dell Inspiron 15R 5537.   I have, however, had extensive problems in USING my the Dell Travel Mouse with my LAPTOP.  The nature of these problems are as follows: The connection between the Dell Travel Mouse and my laptop only works intermittently.  When I first start-up my computer and turn on my mouse, it works as it should.  Usually, however, within 5-10 minutes it stops working. The light on the mouse still slowly fades in and out (color white) but movements of the mouse, left right clicks, etc. have no effect.  Thus, I return to using my touchpad. At that time, I usually turn my mouse off for a period of 10-15 minutes, and then I turn it on again. Functionality has usually been restored.  If I turn it off and on again quickly, functionality will not be restored.  Sometimes, I even wait a period of 10-20 minutes without turning off the mouse and functionality returns (without any user intervention required). I have not been able to determine any correlations or other factors that could explain this pattern.  MY QUESTION:  Has anyone else encountered this problem?  What do you recommend I do to further diagnose/identify the cause of this problem? -- Thanks!
Dell Travel Mouse WM524 ONLY works intermittently