That code also gave me another error.
I believe the previous fix just resolved the 'Parse error' but the function itself doesn't actually work. I set the time to 60 seconds and I was able to make two accounts in less than 30 seconds, the second account shouldn't have been able to be created since the form was submitted twice from the same ip, correct?
Honestly, without this setting properly functioning the module is still keeping out all of the spam accounts that have been attempted since I got it up and running.