I have the same issue with my DAP-1533s. Upgrading to firmware version 1.02 dated 14 March 2012 solved the problem of not being able to enable DST (daylight savings time). However, when in Bridge mode, the DAP-1533 still does not automatically update the time. You need to go to the Maintenance -> Time page and then do a "Save Settings" in order to get the time to update. You do NOT have to reboot (even though it asks you to).
Because the bridge mode does not support scheduling, the time is not an issue - which is probably why nobody in D-Link caught the problem during testing. It just looks funny after a power cycle to see the wrong date and time but that doesn't seem to cause any harm when operating in bridge mode.
I have the identical issue on my older DAP-1522s, so I suspect the Firmware for both units is programmed by the same group at D-Link. The DAP-1522's have been around for quiet a while and I'm surprised that this issue has never been corrected. But of course, it is a D-Link product
