I dont quite understand the Question.
For once you have playback fps (The Chronos 2.1 out of the box will save .mp4 Video at 60fps if i am not mistaken), and the Framerate you are actually recording at.
So now just assume, you record something at 6000fps, and didnt change the 60fps Setting for the .mp4 Save, your PC will play the Video back a 100 times slower than Real time. So now in a video editing software, you could also let that 60fps Clip play back at only lets say 6fps, so then Your Video will be 1000 times slower than real time (will look not smooth at all, but its slower...) . But you can also speed it up, so for example play it back at 600fps, which would make the final Video only 10 times Slower than real time. Since most common displays will however have a hard time actually displaying more than 60fps, and most usual computers would also run into some trouble trying to display 600fps, most video editing software will just display every 10th frame, so the actual final video file after rendering it will still be 60fps but played back a lot faster. As far as Playback speed in relation to Record Frame Rate and Real time. I am not at all familiar with AVS, but assume its some not too serious or professional software, because i never heard anything about it (if it is, i might have been missing out...), but if you want to do more advanced video editing, i highly reccomend you to use more professional software, which allows for propper time Remapping and such things. Advantage of more professional Software is also that there is a ton of tutorials about litterally every thing you might want to do somewhere online, which you might not find for other video editing software. There are also quite a few free options, so make sure to check those out. From My own preference i can only reccomend Adobe After Effects, but thats not free software. Some Other People like Premiere Pro, or Final Cut, if you are a Mac User, but there is also Resolve, which has (or at least Had) some kind of free version, so maybe take a look at those. Otherwise, just make sure you set the Save FPS correctly right on the Chronos, so you wont need to convert your files. Or if you want real time Footage, just shoot at 60fps and save at 60. Dont really know what you are trying to do with the .05 in the AVS?
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If the Question there is about how to lable the Actual Speed of the final Video, the best way for normal people (and still correct for all the Other people, that know a bit more about highspeed) to lable speed would in my opinion be speed compared to realtime. so if you say for example shoot something at 1000fps and play it back at 25fps (what i usually do with my 2.1) then It is 40 times slower or 40x SlowMotion.
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And obviously yes, thats kind of the point of a highspeed camera, that the final video you are seeing is not the Speed it actually happened when it was filmed. The Whole Idea is to Shoot a Crazy amout of Frames in a very short time period (like 1000 in a Second) and then Play them back at 25 at a second, so you can stretch the 1000 frames you captured in the Time of that Second out to play back in a time of 40 seconds. (24fps beeing the generally agreed framerate at which single images shown as a "Slideshow" behind each other seem to become fluid motion), so you can either better see what is happening in very fast motions or create more interresting and immersive Visuals. So final Playback speed of your video clip depends not only on the fps its shot at, but also at whatever speed you show those frames.
Hope this clears this Question up a bit, still not sure, if i even understood your problem you are asking about here?