Greber,
You can use the Async Timer function panel file to get the definitions for NewAsyncTime. To add the function panel, on your CVI main toolbar select Instrument->Load and navigate to 'C:\Program Files\National Instruments\CVI70\toolslib\toolbox\asynctmr.fp '(This is the default install dir for CVI, if your installation is in a different location the first couple directories in your path may differ slightly).
Once the function panel is loaded, you can click on the icon for the NewAsyncTime function and right-click on any of the parameters to see a description.