On KDE 4.3.3 and now 4.3.4 (Fedora 11 x86-64) I activated "Speak time" but when spoken all I get is approx two words "It is" and sometimes the beginning of another syllable that might be the beginning of the time. Then it cuts off. It is almost like it only has one second to speak.

I see that /usr/bin/kttsd is running using about 3% CPU (QuadCore 2.4G, 8G RAM). A child thread under it is /usr/bin/festival --interactive

I'm not able to find anything on how to debug this in any forum (via google.)

I added flite which can say the time just fine in a shell.

This is likely a bug in kttsd, or its backend system, festival. Please file a bug at bugs.kde.org.