This looks like nothing more than a cheap and ugly piece of Klingon jewelry at first glance, but it is also a conceptual timepiece. It combines physical movement with a digital display, although it's a bit hard to read through the design-speak on this one (and I would love a better picture, but the designers have a crap website).
The metronome arm, a reinvention of the hourglass, combines physical movement with digital display and marks the passing of time through its hourly rotation and the reconfiguration of the interior components or bubbles. The time of day appears as a luminescent projection on the interior face of the arm, through the LED display wired into the bubbles.
I'm sure that watch will be amazing if it ever gets made. But, as you can see, it is not the first Jumping Jack Flash watch. This one uses highly advanced Whoopie technology.
Futuristic Prototype Watch [Wristfashion]