Hello!
The terms and conditions of the BetFair Historical Licence, which is at the core of Time Machine, directly forbid storing the price and volume data in open format, so you will not be able to open the database with any tools other than Time Machine.
If you are interested in a set of data containing the names of horses who reached the price of 1.7 first, you can request a customised historical data report, and we can discuss the pricing and other details.
If that sounds like an option, then please either email me at oxa at welldonesoft.com or send me a private message.