This is partially correct. The system uses 3 bytes to for the time stamp, which is the number of minutes since 1-1-1984. When that value gets to ffffff, the system time will roll back to 1-1-1984. So all times on the system will be wrong, such as message dates, error log entries, sms time stamps, future delivery messages and wake up calls.
For a stand alone Sierra or IMA-CA the roll over date is Nov 24, 2015.
For a cluster system, there is a system time token that gets passed between each station. It uses the same time stamp (1-1-1984) It is 4 bytes long, but it is in milliseconds. This will roll over on 3-22-2011.
This will also apply to any Octel-Avaya systems, if they are still in use, Aspen, Branch, 250, 350 etc.