Hi,
You can enter any Project variable created using Project->Variables->User. This variable will store the time out state, i.e., if the time runs out during project (0 in case of Count down option and user entered time in case of Count up option) the variable stores 1. If the time is still remaining, then the value saved is 0.
You can use the value stored in variable i.e., 0 or 1 to have any advanced logic elsewhere in the project.
There is no way to stop the time and the time elapsed is not reported currently.
Regards,
Deepa