There might be a constant similar to longAcDate that would show only dates in HH:MM format, but I'm not aware of it, so in the meantime, offer this alternative, which I just figured out for one of the topics @Narayan Raum‚ is going to present at next week's WFPro Live (http://tiny.cc/WFProLive) session.
valueexpression=CONCAT(RIGHT(CONCAT("0",Hour({plannedStartDate})),2),":",RIGHT(CONCAT("0",Minute({plannedStartDate})),2))
Regards,
Doug