First, the date. It is simple. after the hourglass and before @ sign is the date. The value before the hash is the year. The value after is the percent the current day is in the year.
Finally, the time. After the @ sign is the time expressed in a range from 0.00 to 1000.00 beats. A beat is defined as (3600 x the hour + 60 x the minute + the seconds) / 86.4. For the timepiece web component, fractional beats are allowed up to 1/100 of a beat.