You want to set the timeout on your Session element, not on the forms element.
http://msdn.microsoft.com/en-us/library/h6bb9cz9(v=vs.85).aspx[
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Also note, this will not automatically route users when they timeout because the web is disconnected. If you want to automatically send some to LogOut.aspx when their session ends you have to keep track of the time on the client side. It's not easy.
When the session times out if the user then tries to click on anything that causes a trip to the server, then they will be redirected to the LogOut.aspx page. But only if the user tries to do something that will hit the server (postbacks.)