When UTC is enabled, linuxconf sets up /etc/sysconfig/clock such that the UTC line reads like this: UTC="yes" However, the file /etc/rc.d/init.d/apmd only tests if UTC=true. Thus, UTC is read as being false when it's set to "yes". This makes apmd screw up when it comes back up and readjusts the clock. I'm setting this to "high" severity because it seems like a problem that must hit an enormous proportion of the people using Redhat on a laptop. And it's a real pain, and possibly a critical problem for those people.
I forgot to mention: This bug is closely related (I think) to bug #3744
Fixed for RawHide and Red Hat Linux 6.1 in apmd-3.0beta9-3