Yes, I installed Time Tracker successfully on SME Server 8.0 (after some troubleshooting).
The problem is that PEAR that comes with SME conflicts with the PEAR integrated inside Time Tracker, and if you use wrong PEAR, the app does not work, may show a blank page in dbinstall.php.
To solve this problem change the first line in Time Tracker config.php
set_include_path(get_include_path() . PATH_SEPARATOR . realpath(dirname(__FILE__).'/lib/pear'));
so that it becomes
set_include_path(realpath(dirname(__FILE__).'/lib/pear') . PATH_SEPARATOR . get_include_path());
This should fix the PEAR issue.
I will try to prepare a more detailed description of the installation process with screenshots and post a link here.