The Time Stamp that is part of the backup .zip file correctly includes the local (the correct gmt time offset is included) time (not the server time, but my wordpress local time)that the file was created. However, the time column, on the BackWPup Manage Backups webpage, displays a time that is 4 hours earlier (My WordPress timezone is set to New York timezone or GMT -4 DST). Basically, the gmt offset seems to be applied twice. to correct this, I have replaced the following line of code:
in the backwpup-functions.php file on line 277 (inside the function backwpup_date_i18n).
This modification enables the time column to correctly display the local time for completed backups.
I'm not sure if this is a bug or purposely included because of other reasons. If the gmt_offset needs to exist, can the author add a setting to ignore any GMT_offset value when displaying the time?