I had the idea to mix a clock (something related to time) and a compass (something related to traveling) in order to get the whole "time travel" thing.

The "Moving At The Speed Of Life" comes from the fact that we're all technically time traveling, or that is to say, we're moving through time. The only caveat is that we can't change directions, like go into the past or anything like that, of course. We can only move through it at the speed at which life takes us (i.e. one second per second, etc.), so there's some levity to it, I suppose.