When you shut down, the hardware clock is set to system time in /etc/rc.d/rc.k in both VL6 and VL7.0:
# Save the system time to the hardware clock using hwclock --systohc.
if [ -x /sbin/hwclock ]; then
# Check for a broken motherboard RTC clock (where ioports for rtc are
# unknown) to prevent hwclock causing a hang:
if ! grep -q -w rtc /proc/ioports ; then
if grep -q "^UTC" /etc/hardwareclock 2> /dev/null ; then
/etc/rc.d/rc.text 5 "Saving system time to the hardware clock (UTC)."
echo "Saving system time to the hardware clock (UTC)."
/sbin/hwclock $CLOCK_OPT --utc --systohc
/etc/rc.d/rc.text 4 "Saving system time to the hardware clock (localtime)."
echo "Saving system time to the hardware clock (localtime)."
/sbin/hwclock $CLOCK_OPT --localtime --systohc
This is working in VL6 but I haven't used VL7.0 enough to verify it is working there.
I was surprised and confused when my system updated to DST after I had manually set it the night before. I did leave my system running that night. Perhaps the system must be running at the change time to work.
I've added "ntpdate -b pool.ntp.org" to rc.local and extend my thanks to nightflier.