I can't find the original peer-reviewed study, but I found a secondary source.
http://www.scientificamerican.com/article/small-animals-live-in-a-slow-motion-world/
They seem to be making a leap of logic in saying that small animals percieve things in slow-mo. Just because they can percieve events with a higher time-resolution doesn't necessarily mean that they percieve them more slowly, it only means that they process the information faster. Which makes sense since they aren't doing a whole lot of processing with their tiny tiny brains.
Time is a human construct. If you arbitrarily decided a "Day" was actually 48 hours long then you would be amazed at how many hours it takes a co-worker to complete a task.
http://www.scientificamerican.com/article/small-animals-live-in-a-slow-motion-world/
They seem to be making a leap of logic in saying that small animals percieve things in slow-mo. Just because they can percieve events with a higher time-resolution doesn't necessarily mean that they percieve them more slowly, it only means that they process the information faster. Which makes sense since they aren't doing a whole lot of processing with their tiny tiny brains.