The feedbhack loop is killing you here, I fixed that, but if you still need the reset pin, patch some logic with flipflops and all that stuff. Also, a Pause pin should be a toggle, not a bang ;)
Check This post here: Filestream duration in seconds to timecode - #5 by geometrica - question - Forum
I used that to reformat the time in 1 go, but if you need hours, you need something extra there.
Colors in vvvv are from 0 to 1, if you just keep that in mind, you can right click drag to find a nice color, now you are typing (I am sure).
Nicer Countdown Fix (26.6 kB)