Feature Request: Time Remaining/Elapsed for embedded MP4 files

As part of that conversation, we would need to discuss how Articulate interprets the length of video files. Since before I edited video on 3/4" analog tape, time has been measured in hours, minutes, seconds, and frames (HH:MM:SS:FF). 30 FPS (frames-per-second, yes, I'm ignoring 29.97 FPS for NTSC at this point) for video, 24 FPS for film, and 25 FPS for PAL. When I transitioned to Adobe Premiere 3.0, the smallest-possible measurement of time was still frames

Inexplicably, Articulate chose to measure video length in hours, minutes, seconds, and 1/1000s of a second. Since I'm unaware of any consumer-grade (or professional news-gathering grade) camera capable of shooting at 1,000 FPS, I'd like to know how Articulate came up that unit of measure, and how they resolve it with the digital video world's smallest unit of measure.