EST is the traditional timezone of EfU. The current forums use GMT. I liked it the way it was, and the plurality of players seem to be EST, or at least Americans and can quickly correct the time to suit their timezone.
You can set your account's timezone somewhere. If I'm bored later, maybe I'll change the default timezone for the boards, too.
Garem,
I was able to change mine on the "User CP" from the menu right under the logo.
It is the same place you can add avatars and such.