The only way I solved this out of interest is to downgrade my PHP version to 5.2.x
I tracked it down to locale-related settings and functions that didn't work with 5.3 - nothing to do with timeout per se, moreso that there was some problem running the locale-specific dates using iconv library or something like that. I looked into for a good few hours and gave up by reverting to PHP 5.2.
Just some more info: I recently moved to OS X Lion (language = English) and MAMP 2.0.1 and this issue turned up. Selecting PHP 5.2.17 in MAMP and everything works fine. But when selecting 5.3, I get this error message.
Fatal error: Maximum execution time of 30 seconds exceeded in /Users/Menno/Sites/_245/sapphire/thirdparty/Zend/Locale/Format.php on line 665
Would it be possible to install a Dutch nl_NL language pack to OS X (as this is already part of the OS, right)?