fuckingDates.js

var times = {
    Schedule: {
        "2014-09-26T00:00:00": [1,23],
        "2014-09-27T00:00:00": [9,14]    
    }
};

function formatHour(hour) { 
    
    return hour > 12 ? 
        [hour - 12, '00 PM'].join(':') : 
        [hour, '00 AM'].join(':'); 

}

function formatDate(date, hour) {

    return new Date(date.setHours(date.getHours() + hour)).toISOString();

}

function constructDateObject(date, hour) {

    return { 
        label: formatHour(hour),
        value: formatDate(new Date(date), hour)
    };

}

var foo = _.map(times.Schedule, function (hours, date) {     

    return _.map(hours, _.partial(constructDateObject, date));
 
});

console.log(JSON.stringify(foo))