What does 1 day PoW mean?
It doesn't have a 24-hour block time, it issued all its PoW coins in the first 24 hours of existence.

The math you're looking for is nTargetSpacing * LAST_POW_BLOCK, which multiplies to 86400, the number of seconds in 24 hours.

As you can see from their home page (screenshot), that worked out about as well as you'd expect.