No but if you make the days longer you should adjust need decay also. My day is 50. Need decay is 60. When you first change time the day your Sim is on will change also. So if it's Sunday in your game you may end up on Wed as an example.
I'm pretty sure actions do take twice as long also. Like watching a movie, the movie plays through twice before the action is done (I assume that's why it does that anyway, I've never actually seen the movies at normal game time speed).
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