I started playing the beta only a day before the game went live (and have been playing ever since
but when I read in the FAQ it said the timer was just a limit on how long you could spend at sea. I never thought much about it at the time (wouldn't you always fill up your cargo hold, or die, before an hour passed?) but I can't explain
why it's an hour.
So if the Kraken showed up in the beta, sounds cool and everything, but I guess that's just how the game enforces the time limit. Too bad it doesn't anymore I suppose.
BTW, could you fight the Kraken in the beta? Is that why you loaded up on crew members?