As explained in [1], "Video API annotate video length" is a limit (like "Video size"), while "Backend time in seconds per minute" is a quota.
The first sentence under "Request quotas" indicates that quotas are subject to change, which implies that the API limits are not subject to change.
This is the reason why quotas appear in the console's quota page, but limits do not: quotas can be changed for each user, while limits are part of the design of the API.
This means that, currently, it is not possible to execute shot detection in an 8h video.
If you split the video and want to process the chunks it in parallel, then the "Backend time in seconds per minute" will come into play. If you split the 8h video in 3 chunks of 2.7h each, the default quota will be enough to process in parallel. If you split the video in 4 chunks of 2h each, the default quota will not be enough to process in parallel. You either have to queue one of the chunks, or request a quota increase for "Backend time in seconds per minute".