You've got the syntax for the Format() message wrong. It should be:
column(dt,"Duration")<<DATA type=""></DATA>
I figured this out by setting the format interactively in the Column Info dialog, and then I copied the Table Script to see the syntax.

Paste the script into a new script editor and you'll see the section that defines the Duration column:
New Column( "Duration",
Numeric,
"Continuous",
Format( "hr:m:s", 13, 0 ),
Input Format( "hr:m:s", 0 ),
Formula( :Column 1 - :Column 2 ),
Set Selected
)