(I don't know if it's normal but the simulation needs to count down one time initially before it starts to work properly.)

1) Have you finished and saved your circuit to your profile?

Yes, I have

2) On a scale from 1 to 10, how well do you understand this circuit? (1 = "I still don't get the binary number system", 10 = "I could explain every part of this circuit to a 10-year old!")

On a scale of 1 to 10... I would be roughly 7/8.

3) What part of this project was the most difficult for you?

Getting the "ones" place to count down properly.

4) If you wanted to modify this circuit into a full-blown 12 hour digital clock, briefly describe the major changes you would make.

          1)Make 4 of those counters

          2)Connect them so that they count down collectively

          3)Adjust the Preset options to the appropriate measure, so that restart at the right spot or number.

          4)Make a collective reset for all of them.