Note: Connections to SQL Server Replication is available for SQL Server 2005 and later.
Latency is the amount of time that elapses between a command being committed at the Publisher and the corresponding command being committed at the Subscriber. It is a key measure of the performance of your replication environment, especially when data must be available at subscribers within a certain time period to meet service level agreements.
The Replication - Latency alarms are:
When the alarm is raised
Look at the Agents grid on the Agents page of the Activity drilldown to see which agent is experiencing high latency times.