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Did anyone ever come across "Time is over"? if, yes, please give the reference. If no, can you explain why?
Same with Peter, I've NEVER heard "time is over" normally it is "time is up" maybe because it is easier and faster to say time's up.
Just to add, the word "time is over" is literally impossible cause time does not stop. :)
The only obvious reference I can think of is saying "time's up" to announce the end of something would have originally applied to any activity which had a time limit on it. I've never heard of "time is over" only "the game is over".