On a laggy server your potions can run out up to 3 minutes before the timer hits 0. This is a huge issue if you're working around lava. I'm not sure what else to say or how to replicate it. Go on a laggy server and watch the potion time vanish before it hits 0.
Environment
Windows 7 32 bit, Java 7 Update 9, SMP
Duplicate of [MC-117]