This does not see to work for me,

var alarm = System.getGlobal("alarm_set.Initialised");
var time = GUI.getDisplayTime();
CF.widget("time").label = time;
CF.widget("time_alarm").label = alarm;

if (alarm == time) {
CF.widget("alarm_set").label = "exicute";
}else{}

got it working, needed to use ===