I'm afraid the editing of the times is just a lot of dumb manual work somebody has to do. And it might be you. Using edit>find to search for : would be a good start.
Writing a macro to change a selected occurrence probably is more work than that, unless you're fluent in Word VBA. And writing a macro to find all the occurrences you need to change is still more work.

Changing the characters into line-break or paragraph mark should work. It might help to set Word to display all non-printable characters (in Tools>Options>View) and see what's going in. If you can do the replace manually (by deleting these characters and inserting ctrl-enter or enter) edit>replace should work also. Your post doesn't have the details to find out what's wrong.