There is a bug in Colloquy’s current release, as well as its nightly builds, that causes it to show all timestamps in UTC on OS X Lion. This is annoying if you need to tell what time something happened in IRC. Just building it in Xcode 4.1 on Lion fixes it:
My build (w/no changes to the source) can be downloaded here: Colloquy-Lion-x64
UPDATE: Colloquy developers have a build here as well, probably better than mine: http://bit.ly/oGzVgGloading…