My experience is that you can change it, but it only affects the application that changes it. If you set it to a different value in your app, and open a Netlib connection, that connection should stay open for the amount of time you specify. The default setting in network prefs stays the same.The value was changed but after this in details->network->preferences the idle timeout still has the old value.
Netlib appears to manage settings on a per-application basis as far as I can tell. Note: that's not a definitive answer, just my limited experience.
Regards,
Steve Mann
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