That only shows you time remaining while you are watching the video. Most Netflix applications show time remaining in videos you have started but not finished for everything in your Instant Queue, like on the thumbnail image or next to the episode description or elsewhere. I'm pretty sure the Apple TV is missing this.
I am bothered by this as well. I watch Law and Order SVU which has 20+ episodes per season with boring names, and I don't remember the names. I have no way of knowing how far into the season I am currently. I submitted this to Apple as an "enhancement request."
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Netflix show time played/left
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