First, I can never tell whether this is hours-minutes or minutes-seconds -- there is probably a less ambiguous format available.
But more importantly, the page doesn't say when it was generated, so a relative time like this is meaningless. The page might have most recently reloaded last night. That means when I look at the page, I *always* have to reload it first to make sense of the times.
I notice that the page source actually includes absolute times that are then converted to relative using some JavaScript. Could we perhaps just turn that off? Or preferably convert to local time. I can much easier make sense of an absolute local time: I can compare that to the clock in the corner of the screen, and I can compare that, say, to a commit timestamp.
It used to be that the "ago" part was generated on the server, but Andrew changed that to the fixed timestamp + javascript to improve cachability and thus performance. Perhaps now that it's that it could be as easy as adding a checkbox to the page (which could remember your preference in a cookie) that switches between the two modes?