What are you using as a receiver?
When you say you get data at 1 second intervals, do you mean any data or specifically speed? You should be receiving a page approximately every 0.25 seconds. Note that some may be lost due to poor RF conditions. If you are receiving fewer that 4 pages per second, I recommend moving your receiver closer to the trainer.
Section 8.3 of the profile document deals with suggested transmission patterns, and 10.1.1 the minimum transmission rate. You can see from table 10-1 that some devices may only be transmitting speed at approximately 1 second intervals.
If the speed is only updated once every 5 seconds it is likely dictated by the manufacturers implementation.
I recommend using SimulANT+ to confirm the transmission pattern and update rate used by your trainer. You can also use SimulANT+ to simulate a trainer to test your implementation.
Ian