So I called Apple Care today and got right on. The tech had the same problem but found a work around. Double click in the cell, Insert - Date & Time, immediately before leaving the cell right click (control click) on the actual date it has inserted and choose Edit Date & Time..., then choose a format including a time. The time inserts in there correctly. The secret is to edit to show a time before you leave the cell.
I know it is a lot of work as a workaround. The tech acknowledged the bug and said he would escalated it and I also submitted a bug on it. Hope this helps.