1.
That's not wrong. It's just in scientific notation. The e-02 at the end means move the decimal point left two numbers.
2.
Time and wallClockTime will be more or less the same except.
WallClockTime is always advancing even from one event to the other.
Time on the other hand updates only once per frame.
So if you compare the two at the top of the event sheet they will be about the same.
Now time is incremented by dt every frame, but dt is capped at I think 10fps so if the game ever dips below 10fps time will lag behind wallClockTime.