TIM MORGAN Note to those who have been experiencing freezes: Most likely this bug is caused because you have an old preferences file from 1.0 or 1.1 lying around in your ~/Library/Preferences folder. Your System Preferences program throws the ThinkGeek Clock preferences somewhere in that folder; your best bet on locating it is to do a search for, say, "LED" within that folder. Simply delete the preference file and reconfigure the screensaver.
Sorry for the inconvenience; I'll be careful about that bug in the future.
(Version 1.2)