Albert Einstein explaining relativity: "When a man sits with a pretty girl for an hour, it seems like a minute. But let him sit on a hot stove for a minute and it's longer than any hour. That's relativity."

I hope through humour, English can be learnt easily :)

haha, at the first time I read it I only got the first meaning.

Since the subject is Einstein, both meanings are valid. Hence the humour! This will not happen if the subject is anyone else. Only Einstein came up with the concept of space and time. Should I continuum? (This is another geek joke!)

You are correct. "It's about time" has two meanings. The literal meaning (関於時間) and the figurative one that means "that the time has arrived for something to happen". In the figurative sense, there are also two different meanings depending on the tone and how it was said. "It's about time for lunch".... (it's due about now) "Lunch is ready." "It's about time!" (It was due ages ago!)