I can't get my image to update. I uploaded the Google logo just to see if it actually was writing and it's not:
http://www.viper007bond.com/wordpress/wp-images/blogtimes.png
Yes, it's CHMOD'ed to 777.
I've added updateBlogTimePNG(); to the bottom of the plugin in order to get it to update on each page load (so I don't have to make new posts to get it to update while I screw around with the colors and such).
Here's my server info: http://www.viper007bond.com/phpinfo.php