I think the number "12" is just a convenience, since most people are used to a "clock" that has 12 numbers on it. You could just as easily have a timing bar that goes to 100, or use groupings of 10 or 20 or whatever you fancy.
The "tick" is the base unit of time. If four people (A, B, C and D) all start at the same time (time 0) and A makes a simple action (2 ticks), B makes a complex action (4 ticks), C takes a trivial action plus a simple action plus a demanding action (1+2+6 = 9 ticks) and D takes a "delay" action (1 tick with interrupt rights), then the pack starts to spread out in terms of when they get to go again. When they all loop back to the beginning is somewhat arbitrary.
I guess the short version of that is, "I don't think you're missing anything," heh.
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