The second 555 is an oscillator (astable). The timing capacitor C2 charges through R3+R4. It discharges only through R4. With R3=10K and R4=100K, the output will be close to a square wave.Does R4 and C2 form a standard RC circuit that defines timing of the OUT pin ? I found a 330nF ceramic and dropped that in which slowed down the piezo.