Its a timing setting withing the Radio Display (MID). Play around somewhere with the settings with the Radio Display (MID) and you will see something with alarm or timing or something in the setting related to the time, disable it and it wont mention the time on the cluster again.

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Some Of My Mods:


Some Of My Mods In Text:
1. Depo Headlights
2. Weathertech Window Guards
3. eBay/Sony Rear DVD Players
4. JVC NX7000 Navigation System

NOTE: IF anyone likes these mods and needs some help with installing them on their X5s, please feel free to PM me, I am more then happy to help!