Very little is known about this game.
Dreamers Guild started to develope it shortly after IHNM release but at time when game was almost completed, it was canned. It was never released to the public.
Some known tidbits from publicly accessible places:
Nick of Time (Historical educational 1996)
"Nick of Time", a multimedia interactive science fantasy adventure game, developed using Metrowerks CodeWarrior and MS Visual C++. The project was close to completion when Dreamers Guild went out of business.