I've never used OS X so I can't answer why your clock preferences are grayed out. However, I recently fiddled around with some date/time issues on Ubuntu and have some general clock information that may be useful.
In unix-like operating systems (of which I understand OS X to be under the hood), by default the clock function assumes that the BIOS clock is in UTC (Coordinated Universal Time) and makes timezone and DST adjustments from that time to display what it thinks is local time. So, if you set the clock in your BIOS to UTC, perhaps it will display correctly in OS X. Just an idea.
FYI for anyone out there interested, Windows decided that it has to be different, so it works off of the assumption that the BIOS time is in local time, not UTC. Normally the end user won't notice, but if you dual-boot it is an issue. A common dual-boot issue is that Windows will go online to sync the time with a time server. Windows will take this time update and change the BIOS accordingly. Then, when you boot in to your other, unix-like OS, all of a sudden your clock is wrong because your BIOS clock has been changed. The way to fix this is to change the clock settings in your unix-like system to read the BIOS clock as local time and not UTC.
Like I said, none of this explains why your clock settings are greyed out. That's strange.