It is possible to configure this. If you log in as root then click on the "System Properties" tab. There are 4 setting for dates. You'll want to add time to the "Javascript Day/Month/Year" settings to be m/d/Y h:i:a

We are looking for a better solution because there are times when users need different formats for different sections of the application.  For now here is an overview of what sections of the application use which date format. 

The Javascript Datetime is used for comments, test history and versioning.

The Javascript Day/Month/Year is used for forms, lists, releases, filters.