SOLVED
For anyone else arriving here:
Timer.now() is now, but not here.
The conversion is actually done by the formatting function, if you call Timer.fmt() you get the local time for your timezone:
let now = Timer.now();
let text='Timer.now() returns ' + JSON.stringify(now) + ' and that corresponds to ' + Timer.fmt("%I:%M%p.", now);
Timer.now() returns 1591638090.184137 and that corresponds to 02:41PM.
1591638090 Is equivalent to: 06/08/2020 @ 5:41pm (UTC)
PS:
Timer.now() calls mg_time() that calls cs_time() that calls gettimeofday()
Timer.fmt() calls mgos_strftime() that calls localtime() and strftime()