Well the time is the playback time.
An IFO doesn't have a playback time, it's not played! Only a cell (that's part of a chapter / pgc etc) gets played, and hence has a time associated with it.
If you split at a file, there's no chance of you noticing it during playback - because nothing is being played.
The same goes for if you select a cell that the first cell in any pgc (so long as it's not used in the middle of any other pgcs) - you'd typically spot this by looking at the LBA values. Multiple entries with the same LBA (before the -> arrow), means they're the same thing. If it's cell 1 in one pgc but cell 10 in another, keep looking for better alternatives.