I have not tried the "Live" version and I do not know if it behaves the same way as my "install' version. Also, you did not say if you are using KDE or Gnome.
In KDE, you should be able to right-click on the time displayed in the taskbar, then select Date & Time Format. Select the Time & Dates tab and for am/pm time choose time format pH:MM:SS:AMPM. I believe you must restart your session for this change to display!
In Gnome, try a right-click on the date and time displayed and select preferences. On clock option tab, choose the 12 hour format.
hth...
-docarockus
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