I wouldn't think the time of day would have any effect. You might try it for a while to see what happens, but I suspect you'd get a very confused peep!
Actually, I don't know, but I've always assumed that each use of the scolding glove will cancel out a use of the praising glove, and vice versa. Therefore if you praise a peep say five times and scold him four times, the net result would be the same as if you'd praised him once.