Reporting Back: The burgundy clock is now on my Droid! I'm thrilled!
OK, details - I installed the new UD 5.0.1 without wiping, and the installation went smooth. Took awhile to completely load on boot - two to two 1/2 minutes, but when it loaded, everything was exactly as I'd left it before installing the rom. It left elements of Kook's theme around too, but I didn't stop to look. I immediately added his new theme to the SD card and rebooted into recovery. Once there, I installed it and *that* installation went fast. Minimal boot up time, and once I was back, it was exactly like I had it under UD 4.0.0, and Kook's earlier theme - with the exception that I now have the analog clock I wanted. Even the tweaks I did to the colors of the font used in the dropdown/notification window carried over. I certainly didn't erase them, but installing a new rom usually wipes that sort of tweaking out - not this time!
Took maybe twenty minutes to install the new rom and the new theme, but no problems and no need to wipe (at least for UD users).
-Mike