Click the green flag and watch the time go by. The mnfc prefix in the project name means MetalNumbersForClock from which the characters for the display came from. This is meant to be a Reference Implementation of MetalNumbersForClock. You can use that project or this project to create your own clock.
This clock was created by using the MetalNumbersForClock project by CosmicStomper. Updated version mnfcExampleClockRev2 supports a clock that displays seconds and one that does not. Here's the link... http://scratch.mit.edu/projects/24663234/