Moose

Correction: It's not clear that he took that long - there are lots of cuts for things going on at the same time. If you look at just the ones that involve Babe, Fly gives him the password as soon as he walks out with Hoggett, and Babe gives it to the sheep immediately after that. The judge remarks that Hoggett is standing stationary, but that doesn't mean he stood for a long time: the judge would probably have expected him to move off immediately given that it was a timed contest.

Moose ★

Correction: Babe doesn't necessarily need to win by virtue of time, he just has to perform exceptionally well when he gets going, which he does, to prove the feasibility of the idea. Also, the other half of his performance is nearly flawless and therefore he Might win by that anyway.