I experimented with adding the Time block with the fancy clock swf files.
I was not happy with the quality of the graphics once the image was reduced in size on the moodle front page. The dial and clock hands were hard to read.
So I have modified a clock and made it look better once it is embedded in moodle page.
You can either use this swf file as part of "block time" created by Jan, or you can make a new "html block" and embed the swf file in it.
Comments about this clock would be very welcome.