It was previously much easier to track time. I could start typing in the box, and include the hour/fraction of an hour. ie, 1.5 for an hour and 30 min of work.
The new format substantially increases the amount of time it takes to fill out my timesheet. I have to click the hours, then add those, then click the minutes and add those.
It doesn't sound like a major change, but the way timesheets previously worked was much more frictionless than the update.