It is a little hard to tell from the limited sql.
(current_timestamp(2), 'Start of step class1') may give you two columns one containing a current time with seconds to 2 decimals and the other the literal 'Start of step class1' in each row.
select current_timestamp(2) as ctime,
'Start of step class1' as lit
results =
ctime lit
2005-06-22 09:14:38.10+00:00 Start of step class1
(coalesce(b.step-a.step Hour(4) To second(2)) may return the hours and seconds from b in hh:mm:ss.ss format or NULL if it does not exist.