I've noticed the following KDE's behaviour both in stock Slackware 14.1, that is with KDE 4.10.5, and with AlienBob's KDE 4.11.3.
In System Settings -> Date & Time -> Time Zone I can see:
Current local time zone: Europe/Rome (CEST).
In Italy we're currently in CET (winter time) timezone, but there's no way (to my knowledge so far) to get that in KDE.
Some details from the cli:
Sun Nov 17 11:11:01 CET 2013
Sun 17 Nov 2013 11:11:05 AM CET -0.206320 seconds
root@darkstar:~# md5sum /etc/localtime /usr/share/zoneinfo/Europe/Rome
Does this happen to someone else? Is there any open bug report about this, that you know about?