I never have been a math whiz but I believe Fred was referring to 02:03:04 05/06/07, which is an occurrence that only happens once every 100 years which I would call RARE. (Oops, there I have gone and said that word!)

Yes you are right, a similar situation will occur every year until 2012 where the hour:minute:second month/date/year all line up sequentially.

Cheers!
Bill