Thanks for all your help in getting to the bottom of this.From a design perspective your explanation sounds correct. Design using 0.5 LI squared and the frequency looks after itself in terms of the inductance and power requirementsIt works something like: Q1 starts to conduct and the feedback drives Q1 hard on. The current through the primary rises exponentially. This will continue until the current reaches the limit set by R5 or the transformer saturates. At this point the feedback voltage falls and Q2 turns off. The feedback now drives Q1 fully off. The cycle repeats.
So the timing for this depends on many components, and probably on the load on the supply. The L/R time constant of the primary is a big part of how long Q1 stays on.