Accumulated time for failures....need clarification.

I just finished reading the full Introduction document....and a good read it was!

I have a question about failures.  I read in the intro document that the time you fly the 777 accumulates across all of your airframes and liveries.   Is this accurate?  The reason I ask is that there is also documentation that talks about failures for each registration number.   Can someone clarify? thanks.

Finally, do any of the beta testers have some advice for reasonable settings for failures for this aircraft ?