How to read the sequence clock time?

So on all mpcs there's a timer for the sequence. How do you read the timer? Is it seconds? I don't get it because there's two timers. One on the bottom left and one next to it on the right. Im confused because if I quantize to 1/8th at 4/4 tsig at 120 the 7 slot of my bar says 001.04.48 on the clock and on the right it says 1:22
When the 7th slot of the bar is at 1.75 seconds.

How do you read that? What type of time is it?
The reason why I wanna know is because I'm trying to figure out how the swing/ shuffle grid works.

Okay so I figured it out.
001.04.48 The time on the left is bars beats and ticks. Ticks=ppqn which is 96 on the mpc60. The time on the right is the hours minutes seconds and frames.
So with the swing/shuffle the % of swing is multipled by the length of the quarter note. So .5seconds x 69% =345ms. So what this means is that one of the two 8th notes every quarter note at 4/4 tsig at120bpms gets shifted 95ms to the right at 69% and the other stays the same so that it would be 345ms+155 ms = 500ms or .5seconds

For 1/16th you just divided 345ms by two because there's four 16th notes and two get swing two stay the same so 345ms divided by two is 172.5ms and 250ms minus 172.5ms is 77.5ms meaning each slot in the grid is equal the distance of 172.5ms by 77.5ms at 120bpm at 69% swing.

Dusty Snares wrote:Okay so I figured it out.
001.04.48 The time on the left is bars beats and ticks. Ticks=ppqn which is 96 on the mpc60. The time on the right is the hours minutes seconds and frames.
So with the swing/shuffle the % of swing is multipled by the length of the quarter note. So .5seconds x 69% =345ms. So what this means is that one of the two 8th notes every quarter note at 4/4 tsig at120bpms gets shifted 95ms to the right at 69% and the other stays the same so that it would be 345ms+155 ms = 500ms or .5seconds

For 1/16th you just divided 345ms by two because there's four 16th notes and two get swing two stay the same so 345ms divided by two is 172.5ms and 250ms minus 172.5ms is 77.5ms meaning each slot in the grid is equal the distance of 172.5ms by 77.5ms at 120bpm at 69% swing.

If you don't understand where 250ms comes from 172.5ms + 77.5ms gives you 250. To easily understand you could also divide 155ms by two and you still get 77.5ms.