I'm trying to understand the meaning of this value and the implications of it being over the 120 limit.
Do you think you could help me out with some thoughts about it?
I think it should say "camshaft" instead of "crankshaft", since that is the intake camshaft.
The engine is the BMW's N42B20A, the infamous 2.0 liter petrol, naturally aspirated, with VANOS and Valvetronic.
This would be a VANOS presentation in case you are not familiar with this system: https://www.bimmerfest.com/attachments/bmw_product_info_vanos_training_class-pdf.498656
Edit 1: Added photo with my engine a bit warmer: