That is weird, and I get different results for the following...

//unset %test | timerTEST -m 0 1 inc %test | timer -m 1 1000 timerTEST off
-
//echo -a --> %test
--> 63

//unset %test | timerTEST -m 1000 1 inc %test
-
//echo -a --> %test
--> 1000

Also, the timers in the first test ran for 1 second, the timer in the 2nd test ran for 15 seconds.

Using the -h switch didn't make much of a difference in either test, but adding the -c and -d switches to the first test made a huge difference..

//unset %test | timerTEST -cdm 0 1 inc %test | timer -cdm 1 1000 timerTEST off
-
//echo -a %test
--> 1000