I will state that I have never used this Moose Time class; however, s ince it is based on the Moose Scheduler class, clues to its use can likely be found there. The a and b parameters are included only if required by myfunction, I believe. I find this non-Moose script very useful for simple timed actions:
timer.scheduleFunction( NewBandit, {}, timer.getTime() + 5 ) - - NewBandit is some function
This script frag executes function NewBandit delayed by 5 sec. from the time the line is read by DCS.