Um, only for a few seconds, and then dawn arrives and you automatically exit.
(Unless there are other people online; everyone needs to sleep for it to skip ahead.)
Pretty sure it worked fine on the old map too, but it's so long since I tried on that (what with being able to do /time day instead there) that I don't remember for sure.
EDITED: 24 Mar 2012 03:17 by BOUGHTONP