Speedy Hawk pet effect

On the pet information window for Speedy Hawk, it says it reduces buff cool-down time by 0.5 seconds. If I right-click on the pet in my inventory, the information window will say that it reduces buff activation time by 0.5 seconds if the activation time for the buff skill is longer than 3 seconds.
Which one is it?

It will reduce the buff cool-down time by 500 milliseconds or 0.5 seconds or 5e+8 nanoseconds or 500000 microseconds or 1.5844e-10 century. Hope it helps.