Time Format appears to select 12 Hour vs. 24 Hour format only.

Yes, which means:

(1) I have a super duper special version of the software custom made for me which enables customization of the time display

or

(2) I was thinking of the "date format" setting when I posted, and didn't realize that you are correct, there is no way to customize the time display beyond 12/24 hour display. Looks like you're stuck with seconds until they decide to fix it.

Sorry for the misleading info.