Ode to Spell Checker

Why is the third hand on the watch called the second hand?

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Eye halve a spelling chequer.
It came with my pea sea.
It plainly marques four my revue
Miss steaks eye kin knot sea.
Eye strike a key and type a word
And weight four it two say
Weather eye am wrong oar write
It shows me strait a weigh.

As soon as a mist ache is maid
It nose bee fore two long
And Eye can put the error rite
Its rare lea ever wrong.
Eye have run this poem threw
I am shore your pleased two no
Its letter perfect awl the weigh
My chequer tolled me sew.

Dew knot trussed yore spell chequer two fined awl mistakes!