The analog clock is a Flash movie I hade seen on Bryan's site. It would be possible to just add this inside a HTML block. That's why I thought there was no need to upgrade this block for Moodle 1.5.
I have made an upgraded version of the block because this gave me the opportunity to incorporate both varieties of the block (which I now regret calling 'fancy clock' and 'too fancy clock')
Clicking on the edit icon now allows teachers to choose which clock they want to display. I've also added language strings
that maybe need a little bit of editing by a native English speaker.
Installation is the same as with every block
1. Place the directory 'blocks/time/' inside the directory 'moodle/blocks/'
2. Copy the file lang/en/block_time.php to the directory 'moodle/lang/en/'
3. Visit the admin page of your moodle site for the changes to take effect
4. The block should now show up in the dropdown menu when you have editing turned on in a course
Latest version can be found somewhere on this page.