Assuming that the underlying operating system supports Daylight savings, will StarTeam automatically take into account the change in time and reflect it accordingly in the StarTeam server logs, security logs and time-stamps of artifacts?

StarTeam Server stores time stamps in UTC (Universal Coordinated Time), Greenwich Time, or Zulu Time format and adjusts the time stamp for the time zone that the computer specifies. For example, if a file is saved and checked in at 5 P.M. in California, its time stamp in California is 5 P.M. However, its time stamp on a computer in New York would be 8 P.M., which is the time it was in New York when the file was checked in.

When a file is modified, the time stamp reflects that of the operating system. This means that if a file is checked in by a user in one time zone and modified by a user in another, the file's time stamp may appear to be earlier than the most recently checked-in revision. This does not affect file statuses within StarTeam because the UTC times are used to calculate statuses.
 
If you are in an area that observes Daylight Savings Time (DST), the StarTeam status bar may display the incorrect time when rolling back a view (View\Select configuration\Configuration As Of). For example, if you are currently in DST and rollback the view to a point in time prior to DST, the time display in the status bar (lower left corner of the StarTeam window) will be ahead by one hour. If you are not currently in DST and rollback the view to a point in time during DST, the time in the status bar will be behind one hour. 

To update the Star Team Server log file, the configuration must be stopped and restarted to pick up the time change.