I watched the movie through to the end(!), but spotted only one explicit small item to indicate that the Key might transport through time as well as space: When Skeletor’s minionette locates the copy of the Key, she says that they can find it within a “parsec-eon,” which kind of sounds like a space-time measurement. In addition, those who know the He-Man franchise tell me that he is a far-future descendant of Earth humans on the planet of Eternia, which means that the trip back to current-day Earth was through time. So it is a time-travel movie(!) but that fact has no bearing on the movie’s plot.