Linux – Output only the last 2 minute’s log

I have a log file:
http://pastebin.com/raw.php?i=cdUpTqNV

the first column, before the "ASDF" is the same time, as in the given row, but in unix time [i think it's easier to do this with unix time].

I just need the lines what was in the last 2 minutes:
Ending: 07:55:08 – the last time in the logfile
Starting: 07:53:09 – at most 2 minutes before the last log line in the logfile

The output of the pastebined text would be:
1295938389ASDF 01 25 07:53:09 router authpriv.notice dropbear[20673]: password auth succeeded for 'root' from 192.168.1.201:43822
1295938401ASDF 01 25 07:53:21 router daemon.info dnsmasq-dhcp[1140]: DHCPREQUEST(br-lan) 192.168.1.201 01:2c:23:c3:32:f3
1295938401ASDF 01 25 07:53:21 router daemon.info dnsmasq-dhcp[1140]: DHCPACK(br-lan) 192.168.1.201 01:2c:23:c3:32:f3
1295938508ASDF 01 25 07:55:08 router daemon.info dnsmasq-dhcp[1140]: DHCPREQUEST(br-lan) 192.168.1.201 01:2c:23:c3:32:f3
1295938508ASDF 01 25 07:55:08 router daemon.info dnsmasq-dhcp[1140]: DHCPACK(br-lan) 192.168.1.201 01:2c:23:c3:32:f3

How to do this using only minimal *nix tools? [it's an OpenWrt router, no perl 🙁 ]

so, how to do this: output only line(Last log line time – 120sec)?

Thank you!