I have the latest firmware. I have noticed that the clock is not always showing the correct time. It has been between 30 minutes and 2 hours slow, at times. It usually has the correct time the next time I notice it, usually within minutes. This happens often when I finish watching a movie but I have noticed it at other times too. Not a lot to go on but maybe others have noticed this too?
I noticed.
I wonder if you need it hooked to a network to keep proper time? It’s possible that it doesn’t have an internal battery and a power interruption loses the time. It may need to obtain the time again from the network if so.
That’s my guess though it doesn’t make sense to me not to have an onboard battery. All computer motherboards do. Keep an eye on it and hook it up to the network if it isn’t already.
Perhaps the software is designed to put all of its attention into playing the movie and only updates the on-screen time and other low priority stuff when it’s idle. In these pics I see the battery in the upper left.
http://images.anandtech.com/doci/3990/pic_07.JPG
http://www.anandtech.com/show/3990/western-digital-wdtv-live-hub-review/7
And I recall setting the time zone, but never the clock. It got its correct current time from somewhere on the lan or internet (or perhaps even via the hdmi from the TV?). It needs to know roughly what the date and time is (to keep recent played lists and such), but gosh, do we really need another gadget that keeps perfect time? I dunno 
The device is connected to my home network and, thus, the internet at all times. It does appear to lose interest in keeping time while a video is playing. The amount of time that the clock is off pretty closely tracks to the length of the video just watched, as if the clock simply stops during video playback.
