time goes backwards periodically on laptop if booted in low-power mode

[Dan Kegel]

My Toshiba laptop (running stock Red Hat 7.2, kernel 2.4.7-10) 
appears to suffer from a power management-related time hiccup: when
I boot in low-power mode, then switch to high-power mode,
time goes backwards by 10ms several times a second.
According to the thread
 Subject:  [PATCH]: allow notsc option for buggy cpus
 From:     Anton Blanchard <[e-mail]>
 Date:     2001-03-10 0:58:29
 http://marc.theaimsgroup.com/?l=linux-kernel&m=98418670406359&w=2
this can be fixed by disabling the TSC option, but there
ought to be a runtime fix.  Was a runtime fix ever put
together for this situation?

FWIW, the system is a Toshiba Satellite 2805, and /proc/cpuinfo reports

processor       : 0
vendor_id       : GenuineIntel
cpu family      : 6
model           : 8
model name      : Pentium III (Coppermine)
stepping        : 6
cpu MHz         : 746.342
cache size      : 256 KB
fdiv_bug        : no
hlt_bug         : no
f00f_bug        : no
coma_bug        : no
fpu             : yes
fpu_exception   : yes
cpuid level     : 2
wp              : yes
flags           : fpu vme de pse tsc msr pae mce cx8 sep mtrr pge mca cmov pat pse36 mmx fxsr sse
bogomips        : 1490.94

when booted in high power mode; when booted in low power mode,
/proc/cpuinfo changes as follows:

7c7
< cpu MHz               : 746.342