When you have an order inside the OVER () clause for aggregations that are usually not sensitive to sorting (min, max, stdev, etc.), it becomes an intermediate subtotal. See Justin Cave's answer to the question below for a more thorough treatment.
Oracle MIN as an analytic function - odd behavior with ORDER BY?
EDIT
Referring to sqlfiddle here:
http://www.sqlfiddle.com/#!4/a0f10/33
:
SELECT B1.ST
, B1.ET
, MAX(B1.ET)
OVER(PARTITION BY B1.MAS_DIV_KEY
,B1.STN_KEY
,B1.SBSC_GUID_KEY
ORDER BY B1.ST
) AS TEST_COL
FROM AM_PROGRAM_TUNING_EVENT_TMP1 B1
ORDER BY B1.ST;
...
ST ET TEST_COL
March, 28 2012 11:00:00-0700 March, 28 2012 11:05:00-0700 March, 28 2012 11:05:00-0700
March, 28 2012 11:03:00-0700 March, 28 2012 11:15:00-0700 March, 28 2012 11:50:00-0700
March, 28 2012 11:03:00-0700 March, 28 2012 11:50:00-0700 March, 28 2012 11:50:00-0700
March, 28 2012 11:10:00-0700 March, 28 2012 11:30:00-0700 March, 28 2012 11:50:00-0700
March, 28 2012 11:20:00-0700 March, 28 2012 11:50:00-0700 March, 28 2012 11:50:00-0700
, ... - ST, MAX - , . , ST . , MAX 11:15, 11:50 BOTH ST 11:03. ET 11:50, . ORDER BY OVER, , Oracle.