I tried it again, the bar does fill up much faster when 1 or 2 of your characters are under Haste. But when all 3 of them are under it's influence, the bar just fills up at a normal speed, but the enemies seem to attack less often. It's more like all enemies have slow on them rather than everyone have Haste.
I just tried this myself earlier today and Fireseal is right, the bar seems to fill up at it's normal speed while enemies attack noticeably less. I can understand why they chose to do it this way but that is the weirdest effect I have ever seen. Can anyone confirm if this effect works this way on the original Chrono Trigger? I tested this on the DS version.