I haven't played with this feature in iGuidance 4 for a long time. If I recall correctly the feature creates a file, which is really a text file (openable for example in a Notepad). I think it contains the NMEA sentences, which include time info and location info. You could try to search for the time segment you need, and then delete the rest and save the file. Then try to play it.
There may be better solutions to your project, perhaps others will give you more ideas to explore.