The latest sandbox build supports ShowEventStartEnd property with a default value set to false:
http://www.daypilot.org/sandbox/Scheduler/
That means the event times are no longer added by default.
You can also customize the event HTML using BeforeEventRender event handler:
.aspx
<DayPilot:DayPilotScheduler
ID="DayPilotScheduler1"
runat="server"
...
OnBeforeEventRender="DayPilotScheduler1_BeforeEventRender"
...
>
</DayPilot:DayPilotScheduler>
.aspx.cs
protected void DayPilotScheduler1_BeforeEventRender(object sender, DayPilot.Web.Ui.Events.BeforeEventRenderEventArgs e)
{
e.InnerHTML = e.Text;
}