I agree with Robot_Butler and Hukif, I think this just shows that the counting timing for very small measures of time is the same as waking which in itself is fairly interesting because it seems to synch up with the real world, but isn't showing much on time dilation. I would like to see another study where the dreamer signals after it feels like one minute / 5 minutes / 10 Minutes / an hour / a day or more?, just to see how closely those correlate to real times, and compare them with the same times the person seems to sense while awake (without a clock of course).

Once I get better I may even try this experiment myself