Are you sure there are two minutes of play in the seconds hand? Two complete revolutions of the seconds hand?
Assuming you mean 2 seconds of play in the seconds hand and 2 minutes of play in the minute hand, then this is not completely unusual. When the watch is hacked the balance is stopped, but the wheel train can still move if forces are put in it, so the backlash in the train can sometimes be visible. If the driver cannon pinion is a little tight, it could be causing the second hand to move around as forces are put on the train in the forwards/backwards directions.
The fact that the minute hand does not move right away is completely normal on this movement. To prevent this from happening, when you set the time move the minute hand past the minute you want to set it to, then back up to that minute, and press the crown in - the minute hand will then already have the backlash taken up and should start moving immediately.
Not sure if you are joking here or you just didn't read the original post very closely...this is not a run of the mill 7750. At the very least I would want to make sure whoever tackles this can get parts, and has some experience working on split seconds chronographs. Omega's policy is to have these sent back to the factory in most cases...from the technical guide for the Cal. 3600...
"Due to the complexity of the product and the need for special tools, work on the watch is strictly forbidden (exception: rate adjustments). Watches showing signs of a technical defect must be returned to the Omega after-sales service department. The only exception to this is service centers with specialists trained by Omega, and in possession of the special tools required."
Cheers, Al
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