One: most of the reasoning is available for reading. Lots of discussion was had. If you're actually curious, I would suggest starting with the CA/B mailing group. Some conversation is in the MDSP (Mozilla's dev-security-policy) archives as well.
Two: it's good to remember that the competing interests in almost every security-related conversation is the balance between security and usability. Obviously, a 60-second lifetime is unusable. The goal is to get the overlap between secure and usable to be as big as possible.