No, it does not change technology research times, growth rates, income, or anything of that nature: all of those are determined on a per-turn basis. Changing those would require access to the db tables.
Yes, it slows down character aging, since that's tied to the in-game year rather than the turn number. That was the primary reason I created the mod, because I felt 1tpy absurdly aged characters during sieging, traveling, etc.