Couldn't find this info so asking here.
- Will those hours count on your profile page?
- As oDesk now says, the fixed price jobs are not covered by protection, will those trackings help freelancer in case of dicpute?
It cn be useful merely as a guide when you and the client know and trust each other. I sometimes use it when it is difficult to predict how much a job will cost or how long it will take to do. But it gives you no extra protection.