I have spent the last twenty or so minutes typing this
The thing about the Grid time system is that in Legacy, Kevin Flynn says "hours in here [are] just minutes back home". He also says that the portal closes in "one millicycle, about eight hours". The root 'milli' means 'thousand', so that means a cycle is 8,000 hours. One year in Earth time is 8,760 hours. So that would mean that for programs, a cycle lasts about a year. However, we know that to not be true due to Uprising, in which it's implied that a cycle is about equal to a day. But that also doesn't make sense if you take what Zuse says to Clu in the End of Line scene: "How long have you been looking for [Flynn's disc]? About a thousand cycles?" Flynn disappeared when Sam was seven years old (we know this because Alan says the page number has been disconnected for 20 years, and Sam is 27 in the movie), and if we take Grid years to be roughly equal to Earth years, that means that Flynn would have been in the Grid for 7,300 cycles. Zuse's point was to hyperbolate, and so he would have said "ten thousand cycles" (or similar) if that were true. So we must assume that the length of a cycle is neither a day nor a year, but rather something in between. A popular belief is that one year in Earth time is equal to around 50 Grid cycles, which would make a cycle last around a week (7.3 days to be exact). Once I become rich and famous and buy the rights to Tron from Disney, I'm talking to the Tron directors and setting up a proper time system once and for all, because there's too much discord between Legacy and Uprising. I typically use the Minecraft system (there are 24,000 ticks in a Minecraft day, which lasts around 20 minutes). But if you want, we can use "microcycle" ('micro' has no numeric conversion, so using it is safe) to mean roughly a day. It's hard to find a name for something smaller than microcycles because the words that come to mind that you could use - millicycle, centicycle - imply counts of one thousand or one hundred, respectively, to form one cycle. That is, unless we use what I like to call the "centipede phenomenon". If you look at its Latin roots, the word "centipede" means "hundred feet". But no centipede has ever been found with one hundred feet, making the name "centipede" more abstract than literal, and the same concept could be applied to something like a millicycle or centicycle.
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