I would assume it's so they can calculate based on the user's local time settings.

Edit: And here's the JavaScript, for anyone who's curious about the full list of possibilities (you'll need to hunt for the images in the stylesheet). http://www.conversionvoodoo.com/time-home.js

Simpler and faster than trying to do the equation to poll a geo-IP database, build appropriate timing, etc.

Since so much of our business is referral based, often it's AFTER we've already been introduced to a specific client that somebody actually looks at the website - totally different conversion funnel.

The unmentioned part of the blog post that you nailed w/that question is that this was as much about hitting those three points (messaging, professionalism, easy to iterate) as it is about actually A/B testing our funnel . . .