Similar to HSRP, VRRP should also use a keepalive which I believe is 1 second by default, unless u have tweaked it to something higher. I guess for the backup to switch to active, it will take atleast 3 seconds (by default) + time for convergence of routing protocol. Probably you could reduce the convergence time on ospf, by making the active/standby routers like a DR /BDR in a LAN environment.
Sankar Nair
UC Solutions Architect
Pacific Northwest | CDW
CCIE Collaboration #17135 Emeritus