The animation timers are only used to determine when an animation is "finished", it doesn't determine how quickly the animation plays. In fact, actual animation system in the engine doesn't care what the animation timers since it's exclusively used to determine when the next animation should play.
Some animation timers are set to 1 because they are "constant" animations like running or walking. These just constantly loop the same animation while the timer is maintained at 1 to keep it going.
As for the toggle bit, I'm not sure if we're talking about the same thing, but the animation system uses a toggle bit to allow the system to be able to restart an animation already playing.
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