One thing I've always longed for in live timing is a little slider to set the feed delay. LT is never in sync with TV or streams, which can't be expected, but an option to to manually delay the feed would be superb.
There's a timer on live timing and a timer on the TV so it's easy to figure out roughly how behind your visual feed is and then adjust LT. You'll never get it spot on but to be within a second beats seeing a driver set pole on LT and then 30 secs later watch him cross the line.
I'd offer help implementing but haven't coded with .NET before! Can I ask, where you get the data?