Please let the Swiss speak for themselves as to whether they are honored or offended by this. There's nothing more annoying than having somebody else tell you how to feel about something.
For my part (and I'm Swiss, for what it's worth) I appreciate the homage; though I fully understand SBB/CFF's need to protect the trademark. These clocks in Switzerland are iconic and immediately associated with the SBB/CFF. Much like Apple needs to protect its trademark & trade dress in order to remain full owner, SBB/CFF must protect its design.