In the latest SmarterMail Beta, the red line indicating current time in the calendar view when using the browser interface is incorrect if the users machine timezone setting is not the same as the server's time zone.  

As an example if the server time zone is EST(GMT-5) and the local machine time zone is AST(GMT-9) and the users time zone setting is EST , then if a meeting is created for 5:30 PM EST it shows up as 5:30 PM EST timezone in the calendar view which is correct.  However, if the current local machine time is 4:00 PM EST the red line shows as 12:00 PM EST because the local machine time is 12:00 PM AST.

It might also be nice if the time zone was displayed somewhere in the calendar view.