What's the maximum record time for 5D or 7D with hacks (such as magic lantern, etc). Is it 12 minutes? That's the best number I could find with google, but I wasn't sure about modifications.
There is no exact time limit. There is a 4GB file size limit. Because the Canon's use a variable bit rate the time before the 4GB limit is reached will be different depending on the content and motion of the scene. Point the camera at a blank wall or shoot with the lens cap on, and you'll find it can record for longer than 12 minutes (I've heard of people recording over 20 minutes with the lens cap on). Under normal conditions though, it generally works out to be about 12-13 munutes before the 4GB limit is reached.
I've shot a talking head with my 7d (not hacked of course cuz there is no hack) for 15mins...i didn't push it any longer as this was a paid shoot and was already pushing it as is.