I think I've reported about 10 UI bugs in Podcasts so far.
I'm using iOS 9 on an iPad. I don't get a timer button visible at all, except once the 15 second skip button was overlapped with some other icon. I imagine this was the timer button making its first appearance.
Podcasts are flakey in this beta build. I'll be playing an episode and then pull down to refresh and it will find new casts and start playing those instead, even if I am set to play oldest first. Not too bothered, this is the beta and we expect these sorts of things.