The Meteor Crash Detector is an item from the Falling Meteors Mod, used to detect where the next incoming meteor will hit. For the actual time, use a Meteor Timer.
The Meteor Time Detector functions similarly to a Compass. When no Meteor is detected, the lit section of it will rotate in circles, and the second line of its tooltip will read "Scanning..." When one is found, the lit section will change to point in the direction of the future crash site, relative to the player's facing.