code: function update_time(element)
      {
          var settings = element.data("easydate.settings");
          
          var element_id = $.data(element[0]);
          elements[element_id] = element;
          delete updates[element_id];
          
          var date = get_date(element, settings);
          
          if(isNaN(date))
              return;
              
          element.html(format_date(date, settings));
          
          if(settings.live)
          {
              var timeout = get_timeout_delay(date, settings);
              if(!isNaN(timeout))
              {
                  if(timeout > 2147483647)
                      timeout = 2147483647; // max Firefox timeout delay
                  
                  var id = setTimeout(
                      function() { update_time(element); },
                      Math.round(timeout)
                  );
                  updates[element_id] = id;
              }
          }
      }
docs: Updates the given element's innerHTML based on the time it represents.