A problem with taking the hour-of-the-day into account is that website and event timezones can be different and cause events that still haven’t occurred to not show. It seems much better to show events in some timezones up to 24-hours after they have occurred than to not show events in some timezones when they still haven’t occurred.
Without a provision to enter a timezone for each event there will be up to a 24-hour ubiquity window in past vs. future determinations. I think EME should error in favor of showing rather omitting events within that window such that any event that could still be in the future is considered future and any event that could be in the past is considered past. That will cause current-day events to be considered both future and past, but that is better than not showing events that still haven’t occurred.