Answer as intended by OP
The puzzle has been well solved by cyberbit and Deusovi (with some insights from Lord of dark), but as the path to the solution somewhat deviated from what I had originally in mind, I want to give a 'complete' answer to the puzzle as I thought it would be solved.
The animated, turning wheel shows eight rings of which seven seem to move freely. The innermost, ring remains static and is the only ring which has a colour (orange). The wheel is bordered by dots of which only few show colours.
On closer inspection one can notice:
- The whole circle is split into 24 radial segments of 15degree span each
- There are 21 white patches plus 3 orange ones
Which leads to the hypothesis that one possibly could...
..rotate the 7 rings such that one patch lies in each of the 24 segments.
Matching clocks to the rings
One also notice that the clock faces all show a whole circle of 24 black dots spaced 15degree apart, from which a few dots are removed on each.
One can easily notice...
that each ring has segments in a radial distribution which matches the radial distribution of the omitted 'dots' on the clock faces:
Thus, each clock can be uniquely assigned to a single ring.
Matching colours to the rings
The orange color matches to an orange dot on the outside to which one of the ring-sections is pointing. The other two sections point at black, 'unknown' dots. It seems that there should be a connection between rings an colours.
Seeing that only the 7 white rings move, we can arrange them according to our earlier hypothesis:
We now note,that each ring has one patch pointing to a color and the others to black. Dark green is an exception here, with both of its sectors pointing to dark green, verifying that this rotation is a 'match':
With this, we have uniquely assigned a colour to each ring.
We also notice that
the sequence of color-flashing of the leds matches the sequence from inside to the rim. (orange->yellow->cyan->green->red->blue->pink->dark green)
Combining the information
We now have
- Clocks assigned to rings
- Colours assigned to rings
so that we can directly get
Colours assigned to clocks
Arranging the clocks
The strange drawing in the bottom right indicates that
- clocks need to be attached to their handle (center connection)
- clocks can rotate along their handle (semi-circle)
- clocks 'hang' downwards from their handle (orientation)
If this is done for all of the clocks, one gets from:
As verification one can notice that
All clock-hands now point towards 45 degree - spaced angles exactly.
Decoding the word
With the clocks now all being arranged, the last hint stems again from the little drawing:
visually hinting at
which is a symbol of the semaphore flag alphabet
Using the hands of the arranged clock faces, this directly translates: