I checked the timezone settings and I do see all the world timezones, including those Australian, as options to choose in the profile settings.  This would dynamically adjust the timestamp of the post headers, etc..  If you are putting meeting times in a post, you would need to know the offset of your particular timezone, when reading it, relative to the timezone you are reading.

Another option may be to use the Insert Timestamp button, in the "Add YaBBC tags" section.  It looks like a little clock, set to 3 o'clock.

This time should be about 11:41pm EST: May 17^th, 2008 at 11:41pm

The number you would place in the "timestamp=" code would be in "Epoch seconds".  You can get a converter for the exact time you want by going to this website:

http://www.epochconverter.com

Using this feature, your post would show the exact same time, no matter what timezone the person reading it is in.  I hope this helps.  It does seem complicated, but once you get the hang of it, it's pretty easy.  You might want to give it a try with a few posts and see what happens.

Allan