So I just got movie studio 14 last week and I was scrubbing through my timeline and the time at play head doesn't show the format of HH;MM;SS is shows something more like this 000,000,000 so if this is fixable I have version 14 build 121
So I did right clicking on the time bar just to make sure because I have only had this for a week the time bar is the what shows the time right? well I did right click on that and I got: Time at cursor, Background color, and Text color
Seems you probably have the basic Movie Studio 14, not the Platinum version. This may not have the option set mentions. Try and see if you can change the Ruler time format in Project Properties > Ruler tab. ( I don't have the basic version to test)