Alright, that should not be a problem.
I'm assuming you're on Windows, because I don't know how the toolset works anywhere else.
The script for Greater Magic Fang is x0_s0_gmagicfang.NSS.
Extract that file from the Scripts.zip and put it into your Override-Folder.
Now open the Toolset (NWN2ToolsetLauncher.exe).
In the Toolset go to File -> Open Conversation / Script.
In the Filter Text Box type x0_s0_gmagicfang, select the file that has your Override-Folder in the Location (NOT the one with the original Scripts.zip as location) and click Open Selected.
This a rather clean script, on line 41 you see the calculation for the duration:
float fDuration = TurnsToSeconds(GetCasterLevel(oCaster));
change the line to:
float fDuration = HoursToSeconds(TurnsToSeconds(GetCasterLevel(oCaster)));
Now click Save & Compile.
If everything worked you will now have a x0_s0_gmagicfang.NCS file in your override-folder.
This compiled script will now be used by the game instead of the original.
Feel free to ask if you need more details.
Sidenote: If you have the Toolset open for 5 minutes or so the autosave will kick in and a Messagebox will open that asks if you're sure you want to save the module, since you don't actually have a module open, just answer no.