This is a similar issue as discussed in this thread, http://wordpress.org/support/topic/178402
The time on my PC, the email, and the server are all correct. What appears to be happening is that when sending an email at 12:30 AM, the blog registers the publish time as 12:30 military (24 hour time), or 12:30 PM in the afternoon of that day. It should be registering it as 00:30 military time.
If I send an email at 5:00 PM, the blog registers the publish time as 05:00 military (24 hour time) instead of 17:00 military. As such it thinks I want it to be 5:00 AM the following day.
The behavior is the same whether or not I change the time appearance in the blog's general settings to be 12 or 24 hour time format. At the moment I have to send in posts with a different address than the author so it stays in Pending Approval until I can correct the time of time post.