The DURATION object is saved as INT in seconds in the CA SRM central database. In the universe, these objects are also of the type INT. The HH:MM:SS format cannot be assigned to number values.
The formula to change this to the HH:MM:SS format at report level is as follows:Formatting Duration Field in HH:MM:SS Format
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Substr(Concatenation( If( [Duration]/3600<10;"0";"") ;FormatNumber([Duration]/3600;"#.#"));0;2)+":"+Right("0" + Right(FormatNumber(Mod([Duration];3600)/60;".00");2);2) + ":"+Right("0" + Right(FormatNumber(Mod(Mod([Duration];3600);60);"#");2);2)
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