AaronS - The tool extracts the DN of all users on the server. It then tries to locate the time zone by looking at 3 properties on the mailbox. If the user has a blackberry or other mobile device it will find that time zone. Next is if the user has logged in with OWA, and last if the user is using Outlook 2007, the outlook time zone property will be populated. If you choose to extract information based on recurring meeting information then that is a 4th option but it does take longer.
Since you are all in the same time zone you should just be able to put that in the file for your imports. No big deal and may I add Lucky You.
If a meeting has multiple attendees the tzmove program will send updates. You have to have send as rights on all mailboxes for this to happen. The updated store fix included in the time zone hotfix for Exchange changed the behavior of Send As. Please see the link in the Exchange DST KB article referencing send as permissions.