The request was for > 60 seconds, which requires the "extra long exposure" support code.
Regular CHDK without extra long exposures should be able to do ~64 seconds = APEX -6 = APEX*96 -576
Let me see if I understand this:
There is a limit of 64 seconds in the camera firmware.
You can get 64 seconds maximum with set_tv96_direct(-576)
There is an extra long exposure patch in CHDK that removes the Canon 64 second firmware limitation by patching the machine code in the firmware that sets the limit.
Activating extra long exposure depends on the patch being entered correctly, specifically for each camera and firmware version.
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I checked my sx260 by setting long exposure over-ride to 2 minutes. I only got 64 seconds. I also get a maximum of 64 seconds with set_tv96_direct(...). But after reading this, I decided to check the G1X (ported by philmoz). The exposure lasted the full 2 minutes. It works on the G1X (thanks philmoz!)
So the patch doesn't seem to be installed correctly on the sx260. I'll check with nafraf to see if he can fix it.
I'm assuming that I can also set longer tv values on the G1X with set_tv96_direct(...) ?