To reproduce: use the code snippet from the documentation: http://www.telerik.com/help/winforms/scheduler-views-time-zones.html

SchedulerTimeZone utcPlusOneTimeZone = new SchedulerTimeZone(-60, "UTC + 1");
this.radScheduler1.GetDayView().DefaultTimeZone = utcPlusOneTimeZone;

Woraround: set the time zone by using the SchedulerTimeZone.GetSchedulerTimeZones() list.