This clock displays the hours and minutes only. 555 timer setup is based on "Mint Electronic's Square Wave Generator with Adjustable Frequency" on WordPress.
The current counting rate is 1 minute per second of real time, which can be adjusted by tuning leftmost capacitor. Decrease that capacitance for a faster counting rate.
To see a clock that displays the hours, minutes and seconds, check out "24hr clock" by "djmoc".