I did my nob and bollocks with the normal veet stuff a while ago. Tingle on the balls for a while but other than that no issues. Maybe the men's stuff is stronger.......
Definitely less than 10 minutes - usually around 5. If you start to feel any pain then wash it off immediately and thoroughly. From my experience the base of the nob can take less suffering on average as is more likely to come out in a rash. Overall I wouldn't recommend it - because of the relatively small timeframe, there is a reasonable chance that you may have to shave the remainder afterwards.
edit: actually yes, mine was the normal stuff as well - not the men's. Maybe it is different...
First line smashes it "being a loose cannon who does not play by the rules the first thing I did was ignore the warning and smear this all over my knob and bollocks"
I remember experimenting with veet in college and smeared in all over my balls. Left it on too long and had to go to college. Waddled like a penguin with a gammy leg and didn't say much that day.