This question was posted in response to the following article: http://help.adobe.com/en_US/ColdFusion/10.0/CFMLRef/WSc3ff6d0ea77859461172e0811cbec22c24-7 1a9.html
The "m" mask char in timeFormat() is deprecated as of CF10, so you should not still be using it in your example code. It should be "n".
Currently the Attributes table says "1 day" is the default value for the 'index' attribute. However, it is actually the default value for the 'step' attribute. So the "1 day" should probably be moved from 'index' to 'step'.