EDIT (see below)
Yes. It polls those values, looking for the value 0x00, for up to 60 seconds.
But you're seeing that it's another 49 seconds after that, so it's taking 109 seconds to write the Project to ROM.
FYI, you definitely need to wait for ST200:B to get to 0x00 before trying any other Project Writes. The 60 second "max" was just a guess. With huge programs with huge scan times, with large documentation files, doing RUNTIME edits, it obviously can take longer than 60 seconds. We can definitely tweak that.
But I don't think this is your issue (could be?), especially if you try another Write to PLC while the previous one is still updating flash!
SORRY - 60 seconds is the maximum amount of time we wait BEFORE we start a NEW Write to PLC. Designer makes sure none of the PREVIOUS ROM updates are occurring BEFORE it starts a NEW Write Project to PLC. If it takes longer than 60 seconds, Designer does not try to write the Project - it just tells you to try again.