Hi there,
I think you've probably come up against a genuine Excel vs VBA BUG! 
Cell C367 is correctly formatted to display ELAPSED time ("[hh]:mm"), so its value of 2.534... is displayed as 60:50. When formatted as hh:mm the value displayed is 12:50 - i.e. the same as appears on your UserForm.
BUT - it appears that this NumberFormat is not supported in VBA. I thought it would be simply a matter of changing the NumberFormat in your code to [hh]:mm, but that just doesn't seem to work:
I'd be quite happy to be proved wrong by any experts out there!
Regards,
Greg M
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