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Description
This code:
$d = new Zend_Date('2014-10-27T09:44:55Z', Zend_Date::ISO_8601);
echo $d;
 
displays "Oct 27, 2014 9:44:55 AM", whereas if you remove the seconds:
$d = new Zend_Date('2014-10-27T09:44Z', Zend_Date::ISO_8601);
echo $d;
 
then it displays "Oct 27, 2014 12:00:00 AM".
According to "http://en.wikipedia.org/wiki/ISO_8601" as well as "http://www.cl.cam.ac.uk/~mgk25/iso-time.html", the seconds can be omitted from an ISO 8601-formatted date for reduced precision but the string is still a valid date representation.