What time is it?

We went to Cambridge today and saw this opposite King's College. It's a time piece, spectacular and odd. No idea how you are supposed to read it. But it was intriguing, the locust type creature on the top pulls the outer ring around in a clockwise manner and the large ball beneath is a pendulum. It got a lot of interest, nearly as much a a busker in front of King's College who climbed into a litter bin, had the neck of his guitar stuck out and began to sing!! Didn't use it as a blip as all it looked like was a litter bin... you had to be there to appreciate it :-)