Nope. No fight timed out. The first two were over almost instantly and the third had plenty of time left before the timer ran out.
[quote="Knight_Arthur, post:7, topic:13313, full:true"]
It looks like the coli has only 1 battle field. All heroes will enter the same battle field. So the banner will remain until the rest of the wave.
Not sure what you mean. There were three waves of battle. The standard should (and usually does) disappear when Dragon Slayer dies or at the end of a wave. It was planted at the beginning of the third wave by a long dead Dragon Slayer. There was no Spectral Drake to possess her in earlier waves or Doppelgänger to imitate her. When I ran the attack a second time swapping Bone Dragon out of my third wave the standard did not appear in the third wave.