Image analysis and geo tagging

this topic is related to the geo tagging of the images and post processing of the images.

Does any one having idea that what is the msg ( Y0280958 PROCESSED with GPS position found 132 ms away) indicates in mission planner. If we will use these images for the volumetric analysis using pix4d, how accurate my results would be ?
please suggest some way to reduce the time offset if i am not connecting the camera with pixhawk and programming from outside to take the picture at a fixed intervel.