Yeah. While personally I like the "red circles and cast bars are the Echo letting you see 5 seconds into the future" headcanon, it's just that. Headcanon. There's nothing in game that indicates it's an actual Echo power. It's much more likely that it's just one of the many mechanics that exist purely for gameplay reasons, lore need not apply (aetherytes in Elpis, Eorzean gil as a multiversal currency, etc.)