Line 26 of rc.d/init.d/apmd in the newly update package, if [ $UTC = true ]; then causes a problem if UTC is not set (yes, I know, it SHOULD be set, but older upgraded systems may not comply - like mine!). Make it: if [ "$UTC" = "true" ]; then and you don't get the start-up errors that the first one causes.
Fixed in apmd-3.0beta5-10.