You can use the edit command as follows in the Command Window and you'll see the code come up in the MATLAB editor.
edit elec_bipolar_callback
To answer your questions:
1. Line 20 (in R2015b, at least) has the following code that runs the simulation.
sim(ModelName,t_sim)
2. If you go to the model's configuration parameters, at the very bottom of the "Data Import/Export" pane, you'll see the model is configured to produce outputs over a range [0:t_sim/100:t_sim] ... which always has 101 elements.
- Sebastian