The syntax is wrong, it should be:
TimeSpan ts = TimeSpan::FromTicks(complete-commence);
String^ elapsedTime = ts->ToString("mm\\:ss"); // "mm\\:ss" is minutes:seconds
Note that this is loading the value from Ticks, not seconds or milliseconds. If your input data is in milliseconds, for example, you'd use:
TimeSpan ts = TimeSpan::FromMilliseconds(complete-commence);