Problem: I would like to set up a conditional that tests the time of the most recent post edit. If the most recent edit was less than 5 minutes ago, I would like to show some content.
Solution: Use the wpv-post-date shortcode to output a Unix timestamp, subtract that value from NOW(), and compare that value against the number of seconds in 5 minutes (300) using the following syntax:
[wpv-conditional if="( (NOW() - [wpv-post-date type="modified" format="U"] ) lt 300 )"]
...the most recent edit was less than 5 minutes ago...
[/wpv-conditional]