Personally I prefer the first images. I know the day/night indicator can add a bit of diversity and colour but really they're pointless; I always know whether it's day-time or night-time. For me it doesn't pass the 'so-what?' question:
Admirer - "that's a nice looking watch, what does the coloured section represent"
Wearer - "it tells me whether it's day-time or night-time."
Admirer - "do you often have trouble understanding the difference?"
Wearer - "er, no. Actually it is a bit pointless isn't it"
It's how I would feel anyway.
Might as well make some use out of the 24hr indicator, no?