There are a lot of things you need to do before even digging into photoshopping new clocks or icons or anything for that matter. So here we go.
1. Get Total Commander
http://www.ghisler.com/pocketpc.htm2. Download CFC_GUI.exe
http://forum.xda-developers.com/showthread.php?t=4707983. On your phone create a folder on the Internal Storage side of the phone called Manila Files.
4. Open Total commander, nav in to "Windows" folder, with the keyboard SIP on your phone, select ctrl A to highlight all files, hold down on highlightes files, select properties and uncheck "read only, hidden and system"
5. Next highlight all files again, hold down and select copy to clipboard, then go to Manil folder you just created and paste those files.
Now you have a copy of all you Windows files and Manila on your Internal storage.
6. Drag all those files into a folder on your computers desktop, then on the folder select properties and uncheck read only.
Open up CFC_GUI select the path as the folder on your desktop, and let the program run. It will show all the manila files and pictures of what they are in the next window.
This sounds like a lot, but trust me it's not. Once you get this going a few times, it will be nothing.
The clock manila files are 1c813f6c, 0aa5b915, 78ca32be, 757e7332 and the backgrounds of the clock are 4e670504 and 1bbfdc9b (this one is also the icons for missed call and calender)
Now in CFC GUI, highlight one of the manila files, select trim then save as...save to your desktop.
Now you have a png copy, and you open that with Photoshop and color it until you are satisfied.
Go back to cfc gui, select replace with, then select your new modified clock then selct pad. Now your new manila file is in your Desktop folder with your original manila files. Take that file out and transfer it to your phone, now with total commander, overwrite existing file and now you have a new clock.
Now remember this sounds like a lot, but its really not. Once you get the hang of it, it is easy, I would say this is for advanced users, but I started from zero knowledge now I edit files all the time. We are all noobs once.
Caution, once you jump in and do this, you will not stop. It's addicting making your phone exactly how you want it. It's one thing to grab a theme from someone, its a completely different thing to make your own.
In this you will notice all the files you need to create custom sliders, highlight presses, custom phone dialers, everything you need is in there, you can even change the Opera splash screen to whatever you want.