Hello Paul,
The generated code for a stateflow chart which has one of the conditions for state transitions as either 'after(n,tick)' or 'after(n,sec)' indicates that in both the cases a counter is implemented to keep track of time. The only thing changes is the condition which depends on how 'sec' and 'tick' are interpretted. The following example illustrates this idea:
Consider the following stateflow chart:

The generated code for this looks as follows:

If the condition in stateflow chart is changed to 'after(n,tick)' format, the generated code looks as follows:

In both the cases, the stepsize is considered to be 0.2 sec. The conditions in the first case considers how many steps of size 0.2 sec are required to complete 1 sec and 2 sec respectively to make a state transition whereas in second case it considers just the number of steps mentioned in the condition itself (that's how 'ticks' are interpretted).
Hope this helps!