As Brad already mentioned in that thread, this feature has been asked for before, and quite frankly I still don't find it a good idea. Apart from the reading speed argument, which also has been explained before, I also think that implementing a fixed time to take certain actions only distracts from the story. Furthermore, I think this is a same issue like with the debate about making the 'back' button removable: ultimately the reader should have a certain freedom in reading the story, and a system like this would limit that as well. Besides, I feel like, as this is a writing site after all, that the quality of the story should ultimately be decided by the quality of the writing, not the amount of Javascript tricks the author applies. Which is, by the way, also why I'm not really in favour of the video games which you propose to make.
Also, though I'm not that familiar with scripting, wouldn't the 'dynamic link' system which you propose would in practice make that page of your story unreadable, as the page would keep refreshing, and thus jump to the beginning of the page each time the link is clicked?
Edit: Oops, this came out a bit harsher than I intended, sorry...