hook_link_alter.php

<?
function content_timelock_link_alter(&$links, $node, $comment = NULL) {
  global $user;

  $have_access = in_array('moderator',array_values($user->roles) ) || $user->uid==1;
  $diff_time = time() - $comment->timestamp;
  $time_limit = variable_get('content_timelock_live_time',24);
  
  if ( $diff_time > $time_limit*60 && !$have_access &&  variable_get('content_timelock_disable_alter_button',false) == true) {   
    unset($links['comment_edit']);
    unset($links['comment_delete']);
  }   
}
?>