If everything is occuring, but an observer only detects events whenever they create a detectable state change for the observer, then events could be seen to have an associated rate, instead of a probability.
The average rate of an event occur could be greater than once per observation.
For example, when you see the hand of a clock pass by some number for an "instant" and then continue on, it wouldn't matter whether it remained for 1 "instant" or 1,000, it's only the visible changes in position that create your perception of time.
So imagine an observer interacting with the environment. Most changes in the environment would go undetected by the observer and not create any event perceivable as time. The observer could only detected the limited number of events that create a detectable internal state change for the observer (a small subset of the total change occuring).
So if you're watching a clock hand pass by some location but you're only seeing it in specific "snapshotted instants" of when internal changes occur for you, variations in time or clock rates between the two systems can occur (like time dilation when the rate of common time defining events is reduced between the two systems).
Anyway, so an observer could be limited to observing a compressed view of things as discrete events with specific probabilities of them occuring but those could be due to the observer sampling a system that possesses a much higher rate of interactions that could be well above the observed rate.
The question would be whether matter, like conscious perceptions, is capable of "overlooking" some events.
If you take a look at the quantization of energy that an atomic orbital responds to, you'll find thresholds. The photon receptors of your eye, or the color of light reflected off some material and the term "quanta" itself all indicate that detectable events are tuned to specific wavelengths/energies/frequencies. In quantum mechanics, the rotation of an object is not linear and continuous but instead stochastic and discrete - quantized.
So imagine instead that all possible events occur (and nothing is impossible

), of which an observer is limited to making one observation at a time and this naturally imposes observations of probabilities whereas the underlying reality is rates, which can extend well beyond 100% and be 200% ... etc.
When measuring these as probabilities though this extended range is compressed into a range of 0-100%, because of the bias induced by the observer making limited samples. Each such sample is a unit of time and has it's own associated rate, but truly this rate would also appear to be set physically relative to the rate of some other event transpiring.
So the probability of seeing a specific measurement result is determined by the underlying relative rate at which that class of event (as determined by whatever is making the measurements) versus the underlying rate at which other classes of time defining events occur and the only events capable of creating time for an observer are those that interact with it. Despite popular misperception, you can't freeze time in the environment and then proceed to walk around interacting with time frozen photons or air molecules etc. or you're altering them and violating the idea of them being frozen in time, and of course freezing time for the observer doesn't allow them to witness the world zipping around them in an instant because they aren't experiencing any internal changes that would allow this perception to occur.
I believe the compression from a continuous and potentially infinite value for rates, into discrete events with probabilities would operate much like a half-life or exponential decay where multiple identical results are compressed into a perception of only a single event occuring. The probability of seeing that event is determined by the probability of a sequence of events transpiring that includes it.

The above image could be seen to predict the probability of some event occuring at some relative rate to another reference event. A simple way of seeing this is to flip the graph upside down (using 1-y instead of y as the vertical axis) and looking at the probability of NOT seeing an event as its rate of occurance is increased.
This formula generates an exponential of the form:
1-(e^-rt) for the probability of seeing an event occuring stochastically at a rate r or
1-(1-(e^-rt)) = e^-rt for the probability of NOT seeing that event occur.
If r is a complex value then you can can have periodic events. I'd assume this isn't externally imposed but internally imposed by an observer once you consider the effects that the requirement for memory has on what types of observations are coherently detectable. (Again, seeing an identical event occur more than once makes the duplicate occurances undetectable and so the appearance of virtual cancellations can subjectively appear and also for something to be seen as an objective and comprehensible class of event, it needs to possess a repeative and predictable component that make it definable ... of course this is also observer dependent and relies upon a memory as well)
To tie this in some with relativity consider that seeing a strong bias toward one type of event occuring, slows the perception of time because you're saturated with observing identical events, which appear merged as a single event.
For example, if took a very simple example of some external state being 50% likely to be in one state and 50% likely to be in a complimentary state, then perceived 'ticks' of time would only be available on the transitions between states and not during multiple identical states. So you'd always have a 50% chance of toggling to the other state and so your clock would be running, on average, at half the maximum (light speed related?) rate.
But let's say that something imposed a large bias to these probabilities and that you have a 90% chance of observing one state versus a 10% chance of seeing the alternate state (in this specific case, time would have no directionality and going "forward" or "backward" in time would have no meaning - every transition is forward or could be viewed as moving in a random direction throught time, depending upon what class of system you're trying to use it as a reference for).
The you'd experience transitions between these two states at a rate of 90% * 10% + 10% * 90% = 18%, instead of a 50% rate. It's x*(1-x) or x-x^2.
If these small scale motions through time were not directly correlated with macroscopic units, then the age of a system as determined by making a statistical measurement of the overall change in internal state, which would experience cancelations but retain an overall forward diffusion in a single direction through time proportional to the square root of the exposure time (brownian motion through time isn't directional with reference to individual units, but instead experiences a macroscopic diffusion outward or forward in time once relative measurements of distances are made between individual units - that's one manner in which time possesses a direction and this also creates the appearance of flows between pressure differentials and can give many fluid characteristics as well as creating the appearance of an invisible attractive force when you consider and observer is diffusing through space as well - if light was entirely consistant, and travelled in straight lines with constant velocity, then we shouldn't be limited to having statistical descriptions of when/where/what it is - imagine instead a pressure differential diffusing outward at some approximate rate, with more error at smaller scales and being detected when this difference passes by a detector and then disappearing once a new steady state condition is reached - you might not even detect the differential/photon if the detector wasn't in a state capable of detecting at that moment, so a virtualy sea of photons could exist beyond what's observed - detectors have a range of energies over which they detect quantum units)
Oh well, I ramble as usual and have to get to work but I couldn't resist posting on this thread because I love the subject.