1 Simon: I fear that shrinking Cthulhu may have been a mistake.
1 Jane Goodall: How so? I mean, apart from the obvious?
2 Simon: Clearly this shrink ray works by separating dimensions and shrinking only the three standard spatial ones.
3 Simon: Shrinking time in proportion would have made you like buzzy mayflies, with high-pitched voices, dying of old age within hours.
4 Simon: Ergo, it didn't do that.
4 Steve: Who's this Ergo bloke? And why was 'e messin' with our shrink ray?

The other effect, when time is shrunk but spatial dimensions remain the same, produces either Bullet Time or Time Stands Still, depending on the severity.

If you ever hear weird high-pitched buzzing sounds, it's definitely a sign that someone has had their timeline sped up so fast that you can't perceive them visually, and can only hear their voices incredibly sped up.