The color of the current time pointer can be changed via the Visual Style Builder. Here you can find more information about using Visual Style Builder. I have attached a screen shot which shows how you can change that color.
I hope this helps. Should you have any further questions, do not hesitate to ask.
Best wishes,
Ivan Todorov
the Telerik team
Q1’11 SP1 of RadControls for WinForms is available for download; also available is the Q2'11 Roadmap for Telerik Windows Forms controls.