That's true. Damage over time and heal over time are too slow. It's especially bad when players have multiple effects circling them. Ice over time is fairly quick, why can't the others be more like that? Fire, Storm (Storm Elf, Stormhound), Death, Balance (Steel Giant, heals), Life (Spinysaur, heals), Myth (pet Humongofrog, Basilisk), are all too slow.
There's no good reason for it to be taking this long. Speed it up.