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For server side rules, Timed Content does not use UTC.
Also see the screenshots in the plugin description. In a shortcode the timezone will be added like this:
[timed-content-server hide="2013-09-13 20:30:00 America/Chicago"]The same applies to rules which you use by ID. They also contain a timezone setting.
For client side rules, only date/time will be used as they are in the browser since the shortcode will be interpreted using JavaScript in the browser and thus the local timezone of the client applies.