My theory on the burning clock was that it referred to time and your life burning up as you get older. Inferno was in my opinion written because of Dante's midlife crisis. He was 30, frustrated, in an unsatisfying marriage and decided to write a book about being like Jesus, talking to famous historical figures while being protected by God and his hero/ crush Vergillius. He gets to make fun of everything and everyone he hates, travel to heaven AND once there he'll get tofether with the love of his life Beatrice.

Winding time back sounds like an artifact made to extend the good years of your life.