I am not entirely sure about that. I observed that it doesn't track time while being in any sort of dialogue, and while in the main game screen. It does track time if you pause the game and wait in this stats screen.
However, there is still a gap of some seconds between the RTA and IGT in my videos, which I couldn't explain (yet).
I decided to not make a 100% category (which requires getting all the in-game achievements, as well as all items in the game), because there is one achievement which requires you to play for 20 minutes, and well...
You can finish the game at least once, get all items and other achievements in LESS than 20 minutes (I managed to do it in ~15-17 minutes of game time).
This makes you idly wait just for the last time achievement, which will make all top potential records for this category at exactly 20 minutes.
I did a TAS run of Overlord's New Mansion, here:
In the time of making this, I realized the floor clipping in the start of level 8 can easily be done manually, by positioning the camera and then mashing 4+5.
This also works sometimes for the start of level 7, but it is much less consistent for me (If you fail, the enemies give you a ride).
Late edit: In level 15, you can also skip most of the level if you spawn 4 bears manually inside the wall (from the starting position), and then they have a chance to catapult you though the ceiling when you approach them and jump at the right time.
Yes, someone else has noted that and brought it to my attention. Thank you too by the way.
In a glitchless run it would be useless, I think, because you still need to wait for the slime to get you to the end of the spikes. In any% it could help, because you use the giant ogres to cross the spikes, not the slimes. I will try that.
I don't see any reason why they wouldn't be allowed, when the rules states not using rocket boosts. Finnsmith will decide I guess.
Actually, I recently found an easier way to climb the mountain, it starts from the third pill (at the other side of the mountain). I have a record of it, so I will post it to YouTube as a "guide", but it won't be a run submission because I accidentally fell before taking the pill... The top of the mountain is the hardest part, because it is so easy to fall or get stuck there.