Having read the documentation, as best I can tell the only way of placing an event in a timeline window is by alt-clicking to choose the event-type, then dragging it to its desired location using the clock indicator as a guide. There doesn’t seem to be a way of selecting a time point, then having Max insert an event precisely at that point without the user having to drag the object.
Am I missing something? Or is there perhaps a more precise, effective way than timeline to create a multitrack sequence of events?
Sorry this does not really answer you question but before you spend any great time on the timeline you might want to search the archives regarding timeline’s long term stabillity as i seem to recall many people having problems with it in the past.