By default, Interface Controllers presented modally have only the "Cancel" button in the status bar. Is it possible to show the time label also?
No, it is not currently possible to control the display of the time label. You can only customize the text displayed. For example, you could change "Cancel" to "Done" by setting the title of the WKInterfaceController in the storyboard or in code. Here's a link to more info provided by Apple in the programming guide.