What is it?

lclock.exe?associated with a longhorn application.

What does it do?

System tray clock?

More info:

At the time of this writing, I've only seen one report of it being a legitimate windows file. If you have any doubts,?keep an eye on [url=http://www.google.com/search?hl=en&q=lclock.exe&btnG=Google+Search]this search[/url] for more info about lclock.exe