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I think it's a bug. I saw mine didn't have the AM/PM.. so I did a complete fresh install. Still didn't have the AM/PM so I did the "turn on 24hr... reboot" etc. Had to do it 3 times and the AM/PM finally showed up on the locked screen. Stayed there for about a week and then it went away again. Did the whole "turn on 24hr... reboot" etc. 3-4 times and it eventually came back for a couple days. Now it's gone again. Looks to be a BUG.

Yeah, I now think it's a bug, too. I was showing this AM/PM thing to a coworker and then it just vanished when I selected U.S. Virgin Islands again. Then, fuddling around to see if I could put it back there, there it is.

To put this in my coworker's words, "weirdo"! :p

Edit: the good thing is that I didn't have to reboot once. :)
 
I'm having the same issue with the disappearing AM/PM value.

Also,

The AM/PM indicator should be much smaller than the time itself.

A leading 0 is not needed at all and is confusing. A leading 0 suggests a 24 hour clock is being used, especially if the AM/PM vanishes.

Which looks better?

09:12 PM

9:12 PM

I'm in the US and did the 24h/reset/12h/reset trick and have the AM/PM without the leading zero.
 
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