The Acquisition options define the acquisition period.
If e.g. the acquisition rate is set to 10 per minute and the number of acquisitions is set to 20, the total acquisition duration will then be 20 [acquisitions] / 10 [acquisitions/minute] = 2 minutes. In a period of 2 minutes 10 images will be acquired at each position.
When the acquisition has completed, the images can fairly easy be combined to a lapse time video. Use e.g. the ImageJ program from www.nih.com
At each position the images can be acquired using Extended Exposure and Extended Focus tools.