I just tried it on my testing OS, and I think it’s setting time correctly based on your location. To check:
1) make sure Use NTP is flag on
2) set location to Melbourne,Australia
3) wait for the controller to update time
4) if the time looks wrong, check http://x.x.x.x/jo?pw=your_password, where x.x.x.x is your OpenSprinkler’s IP address. Look for the ‘tz’ parameter, it should be 92 (according to your current time zone and DST).