When you adjust the military/social/research sliders this seems to update the research and production times as soon as you leave the finance management screen.
However, if you go to the colony manager or individual colony management screens and 'focus' the colonies to research, the ETA for the current research project doesn't seem to change.
I thought at first that nothing was happening, but when you click 'turn' the research ETA time then drops by quite a bit (depending on how many research points are being generated of course).
Is this a bug?
Funnily enough, if you focus 'production' on the colony manager then ship construction time does decrease in real-time.