I think you missed a step:
vsim821custom> options licensed_feature.snaplock_enterprise.enable on
vsim821custom> date 0917
Sat Apr 19 09:17:00 PDT 2014
vsim821custom> Sat Apr 19 09:17:00 PDT [vsim821custom:telnet_0:info]: Time changed (via "date") to Sat Apr 19 09:17:00 PDT 2014
Sat Apr 19 09:17:00 PDT [vsim821custom:wafl.date.changed.notice:notice]: The date or time used by the system has changed. A discrepancy between system date or time and Snapshot copy schedule can result in missing or delayed scheduled Snapshot copies.
Sat Apr 19 09:17:08 PDT 2014
vsim821custom> snaplock clock initialize
*** WARNING: YOU ARE INITIALIZING THE SECURE COMPLIANCE CLOCK ***
You are about to initialize the secure Compliance Clock of this
system to the current value of the system clock. This procedure
can be performed ONLY ONCE on this system so you should ensure
that the system time is set correctly before proceeding.
The current local system time is: Sat Apr 19 09:17:14 PDT 2014
Is the current local system time correct? y
Are you REALLY sure you want initialize the Compliance Clock? y
vsim821custom> Sat Apr 19 09:17:23 PDT [vsim821custom:snaplock.sys.compclock.set:info]: The compliance clock time of the system has been set to 'Sat Apr 19 09:17:14 PDT 2014' due to the reason 'initialized by administrator'.