I'm Mexican and I just get a playbook, it initialize correctly but the time displayed on the top of the screen is exactly one hour before, if I check the time configuration is correct, the time showed at the bottom of the date/time configuration is correct but when I get back to the main screen the time on the top is wrong.
The must amazing thing is that the wakeup alarm works fine; it rings at the right time not one hour late.
This is a bug and so far there is no way to fix it, you can set the time manually or even entering a different time zone but it will change back everytime you restart the PB, its very annoying specially since like you said the system's time seems to be corect is just the displayed time at the top thats wrong.