I just tried to set up a DJ using your specs and like you got an error I then tired setting the DJ dropping the feed at midnight/12PM and still got an error and then tired from 8 to 9PM and was able to set up the DJ without errors. To me it looks like CentovaCast team didn't take in to account that some DJ will work/broadcast during a change of day. I also tried changing the time after the DJ was setup and still got the time error.
I few things I'd check to fix the error would be the server time zone, server time zone will dictate how the time function see the scheduling of DJs. The second thing I'd check what time zone is the DJ broadcasting from, this will allow you to adjust server time zone with DJ time zone.
I can't think of anything else I'd check unless you want to adjust the server time zone which could cause a conflict in other areas.