What this normally means is they think that you or your partner may have conveyed extraneous information, for example by taking an unusually long time to bid (see Pause for thought). The right they are reserving is the right to call the director later if it subsequently looks like your side may have taken unfair advantage of that information.
If you dispute the fact that your side may have conveyed extraneous information, you should call the director immediately.
If the boot is on the other foot and you feel your opponents may have conveyed extraneous information, a better policy would be to ask first "Do we all agree there was some hesitation here?" (or whatever). If the opponents don't agree then the director should be called immediately to resolve the issue.
If the opponents agree that extraneous information could have been conveyed then politely state that you are reserving your rights to call the director later, but there is no need to take any other immediate action.
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