It 'could' (technically) kind of work. BUT
A) it would make the game unplayable for other connected players. As they can not do anything while time is sped up. This could be prevented by having all logged in players need to sit. But would make it pretty difficult to "schedule" when you want to use it.
B)There is high risk someone uses it on purpose or accident to break the game for others.
Imagine, you have to imprint at a specific time so you log of (Imagine Real life ^^ ) but someone uses the speed up to get some Metal quickly, while you are gone. You would have no Idea when the imprint would be then. Just as a example.
C) There is a problem with synchronizing, You know the time jumping sometimes on breeding timers and so on? Imagine that jumping 20* as much.

And this are only the problems I found looking at it for half a day.
So I don't think it would work acceptable on servers.

I tried installing it on my own private server, which only myself and one friend play on. Although I could craft and sit on the chair, the time did not speed up. I enabled admin cheats but nothing changed. I added the 20x speed modifier to the UserGameSettings.ini to see if that would make it happen, but it did not. So I would assume that this mod works only with singleplayer worlds.

cheat slomo 10 (or 20, or 50) for servers.

You both are totally correct.
It is coded with some save guards to disable it on servers from being used. And to explain Tebo's post a bit more, if you want to test the effect on servers, you can use the console and the slomo cheat:
Admincheat slomo 10
And admincheat slomo 1 to desctivate it.
Please let me know if you disagree and think it would benefit the server if it works.

I think it's a neat idea to have an ingame, non-admin item for certain admin commands. You weren't wrong to disable this one by default, though, as it has the potential to be very disruptive even when not deliberately abused.

Maybe you could put it on an INI toggle.

Personally, I got really excited when seeing this mod because on my server I do a lot of mass breeding. I generally use admin cheat slomo 20 but it clogs up my console and proves to be annoying. This mod for a server would be useful because having a time-warping chair is not only a neat concept, but would get rid of the need to enable console cheats. I agree that this mod would not be accepted on a majority of servers. But having the option would definitely be nice :)

Then I hope you are excited to hear there will be a big update soon that allows server use. ;)

The Multiplayer Update is live.

yes!!!!!