I'm sure that by the time a user has read the message and tried again however, more than a second will have passed.
But he won't have to wait :p anywayz, not a big deal really
Well we could add this ->
if($last_search['sid'] && $mybb->settings['searchfloodtime']-(TIME_NOW-$last_search['dateline']) > 0)
This bug has been fixed in the latest code.
Please note the latest code is not live on the site or for download. An update will be released which contains this fix.