There are two types of timecodes in FreeStyler - the 'Elapsed'- and the 'Realtime'-Timecode.
The 'Elapsed'-Timecode counts up from 00:00:00 (stands for HH:MM:SS) [you will use it for lightshows]. The 'Realtime'-Timecode is using your local PC time [you will use it to start a scene at a specific time].
To enable the 'Elapsed'-Timecode follow the steps in this video: http://www.youtube.com/watch?v=DJxFWBDpHwg
To enable the 'Realtime'-Timecode follow the steps in this video: http://www.youtube.com/watch?v=AaNPTE0lpJ4
Enter in every line with a scene, that you want to use with the timecode, in the 'HH:MM:SS'-Field the desired time. When you are using the 'Elapsed'-Timecode you just have to click the 'Start'-Button, then the timer starts. With 'Freeze' you can hold on the time and with 'Reset' you can reset it.