codice:
Private Sub Form_Load()
Dim sTime As String
   sTime = Time
   Label1.Caption = Mid(sTime, 1, 5)
End Sub

Private Sub Timer1_Timer()
Dim sTime As String
   sTime = Time
   Label1.Caption = Mid(sTime, 1, 5)
   If Text1 = Label1 Then
      MsgBox "fai qualcosa"
   End If
End Sub
metti la prop interval del timer a 60000