Yes, it means 4 hours. Fire delays and the like are designed to allow for different timezones. If you shoot someone who just went to bed, school, or work, it's really not entirely fair if you keep shooting them and they're dead by the time they get home. The idea of the long fire delays is that someone has a chance to respond to (almost) and action before it's too late.
Also, you might want to just edit your last post in the thread (or even make a new post) for new questions, as it allows more consistency in the thread, and a new person who may have some of the same questions can read it more easily, and doesn't have to post and wait for their own answers.
"May the Grace of Ara go with you, and His Vengeance be wrought upon your enemies."