When the timer reaches 0 the explosion FMV plays then the Game Over screen appears. If I'm not wrong, it first goes to the other field and then plays the FMV (much like the intro FMV does), but I wouldn't swear about it.
As for reaching 0 while in a battle (according that the battle is won at the same time) could probably do it. It's a bit earlier in the game, too! I think K7 made a video of it (or did he? can't remember if that was this exact same thing). If all else fail, I'll probably check it once I'm back home from work (yeah I'm supposed to be coding... haven't done a thing today yet... *shrugs*)