I think everyone just about has seen the Cell Phones that have the flipping Digital Clocks
I haven't. Got a screenshot/picture?
XView did a 3D Clock -- HERE -- that flips every minute/hour, but I'm not sure that's what you're going for.
My best guess is that it would rely on animation for all the flipping, different states for each animation, and a little scripting to sync it up with the time.