Hey,
This is possible, but it isn’t easy yet.
You need to talk to Type in unicode, so a MEL expression might look something like this (it sets the text on type1 to be the scene time in seconds - it assumes the frame rate is 24fps):
string $numbers[] = {"30", "31", "32", "33", "34", "35", "36", "37", "38", "39"}; //unicode for 0 to 9
int $seconds = (`currentTime -query`)/24 % size($numbers);
int $tensOfSeconds = (`currentTime -query`)/24 / 10;
string $time;
$time += $numbers[$tensOfSeconds];
$time += " "; // the space is really important so Type knows the unicode character has ended
$time += $numbers[$seconds];
setAttr "type1.textInput" -type "string" $time;
If you can use Python everything gets much easier as you can convert to unicode on the fly.
Best,
Ian