this happened to me three times now. With Warrior on leve 124 and 128, i killed the last boss and had 2 second or 3 seconds left and I got ran out of time message. I am on Android device (note 2).
Today, playing with monk and same thing happened on level 14..(monk is still early stages :-))
because of this lost couple of revives that i used for warrior and godly spaulders found on 126.

Please check and correct the timer...otherwise with Chad sword cant progress much farther on endless to get Level 44 purple or gold weapon...
Gold offerings used to have godly gear and purple butcher l44 weapons but that has been taken away post patch 1.2.
Please let me know what to do - need help.
Comments
Anyway just keep farming 110+ for stuff. And if you don't get anything, pay money for tickets.
If multiple people facing same issue then its a bug..Glu admin please check...
See this thread for how to reduce the problem
http://ggnbb.glu.com/showthread.php?100406-bug-Endless-Timer&highlight=timer+kill
Anyway just additional info. I got masterful raider at 116, masterful raider at 118/119 and vortex blade at 119 as well. Some goldly were from under 120 as well. So do not waste too much potions. Just be patience. Souldshard is harder to find than leg gears btw.
this may be post 1.2 patch.. not even purple items drop from 100 to 120 for me. IIF 303. trying since past one week...
4 weeks to get it..