An item has a title stored that is generated from the first field that is filled out. The title is updated whenever the item is edited.
In your case, the first field is a date field, and since you are in different time zones the date and time appears differently for each of you. The date and time is correct (I assume) below the gray bar to right of the word "Date", but incorrect for one of you (depending on who last edited the item) in the larger title text first in the screenshot.
You will only encounter this problem when you work across timezones and have a date field as the first field in your app. We will see what we can do about fixing it. Thanks for reporting this.