In the hwclock man page, this section: ... --version Print the version of hwclock on Standard Output. You need the following option if you specify --set option. Otherwise, it is ignored. --date=date_string ... is wrong. The stuff starting at "You need..." should be a "header" for the --date option. See other headers for groups of options for example of how it should look. Then move the --epoch option to follow --version so it is under the proper header.
Patch added to my package, will submit upstream shortly.