While in List mode, time fields are formatted to show the hours and minutes only. If you alter the content of one of these fields and then revert to Browse mode, you will find that the seconds have been zeroed-out. If you do not alter the time field in List mode, the seconds will display correctly in Browse mode.
Workaround: Do not use List mode for viewing multiple records containing time fields. If you need to see multiple records with time fields at the same time, you may create a layout with a short body.