The reason you don't have to drill half way through a delay to cut the time in half is because the delay element burns much faster when under pressure during the motor burn. When the pressure goes away at the end of the burn, the rate at which the delay element burns is greatly reduced.
Looking at an AT Hobbyline delay that is 0.75" long and gives a 10 sec delay in a motor with a 2 second burn time. At 1/32" per second for the 10 second delay, that has to burn through 10/32" to take the 10 second delay from the end of the burn. That means that the rest of the 0.75" or 24/32" delay has to burn 14/32" during the 2 seconds of propellant burn. So it is burning almost 7 times as fast under pressure during motor burn then after when there is no pressure.
If you drill the delay 2/32", it still burns the 14/32" from the bottom of the drilled hole during pressure, leaving only 8/32" of delay left when the pressure drops off. If you did drill half way through the delay grain trying for a 5 sec. delay, you would only have 12/32" of delay left and since it burns 14/32" during the motor burn, your ejection charge would fire before the motor was done burning. Not a good thing.