I'm looking to get a better understanding of frame data.

https://youtu.be/C-vlRds7SEI?t=9m

I'm linking to an episode of Excellent Adventures with Gootecks and Mike Ross with Fchamp as the guest. The moment I'm linking to is a Sim vs Sim match, Fchamp tells himself, "Calm down, okay he's plus, ok he's minus 2, now done."

I understand that the opponent Sim attacked with a true block string ending on an attack that puts him at -2. What I don't understand is how long this advantage is effective.

To me, it makes sense that Sim#2 loses his advantage in that mix-up, and that he may be left unsafe to be punished ending that string, but he jumped back to create distance and buy some time.

James Chen in his videos about frame data stresses that frames are just measurements of time. If Fchamp gains frames (time) due to Sim#2 losing frames (time), since Fchamp remains crouching/blocking and Sim#2 jumps back creating space and 'buying time' does that nullify the 2 frame advantage Fchamp had returning the state of the game to Neutral/footsies, or does that 2 frame advantage from the block string carry over to the next hit?

Fchamp and Mike Ross comment on the technical aspect, but do not go into it due to the target audience for that show.

So I guess to phrase this differently, does Sim#2 lose the trade when he TP's in simply because Fchamp has frame advantage from the mix-up 120 frames ago, or did Fchamp just read and punish the TP in?