I actually have a similar issue. After it resets to 120 minutes, I'll start running it, and then within 10 minutes or so it will sometimes drop down to 0 and stop. If I then close Hearthranger and open it back up, it shows the correct time until it drops back down to 0 again. I then repeat this process until it's actually at 0
This doesn't seem to always happen, sometimes it will run for the whole 120 minutes without an issue.
It also seems like the counter is still counting down while it's at 0. Sometimes if I turn it on and walk away from my computer when it's refreshed at 120, I'll come back 2 hours later, the counter will be at 0, but only 1 or 2 matches have been played, and if I restart hearthranger, it will still show 0 minutes.
Here's an example gif of the issue:
https://i.sli.mg/KnMZcy.gifv