Same here (64 bit linux, Qt 5.1.1).
Looks like some events are clearing the initial selection to default, because this works ok after the edit widget is shown:
	
	#ifndef WIDGET_H
#define WIDGET_H
 
#include <QWidget>
#include <QDateTimeEdit>
#include <QPushButton>
 
	Q_OBJECT
public:
	{
		connect(_btn, SIGNAL(clicked()), this, SLOT(nextSection()));
		_edit.show();
		_edit.
setDateTime(QDateTime::currentDateTimeUtc());
		_edit.setDisplayFormat("yyyy-MM-dd hh:mm");
	}
public slots:
	void nextSection(){
		static int s = 0;
		s = (s+1)%3;
		_edit.setCurrentSectionIndex(s);
		_edit.setSelectedSection(_edit.currentSection());
	}
private:
};
 
#endif
        #ifndef WIDGET_H
#define WIDGET_H
#include <QWidget>
#include <QDateTimeEdit>
#include <QPushButton>
class Widget : public QWidget{
	Q_OBJECT
public:
	Widget(QWidget * parent = NULL)
	:QWidget(parent)
	{
		_btn = new QPushButton("next section",this);
		connect(_btn, SIGNAL(clicked()), this, SLOT(nextSection()));
		_edit.show();
		_edit.setDateTime(QDateTime::currentDateTimeUtc());
		_edit.setDisplayFormat("yyyy-MM-dd hh:mm");
	}
public slots:
	void nextSection(){
		static int s = 0;
		s = (s+1)%3;
		_edit.setCurrentSectionIndex(s);
		_edit.setSelectedSection(_edit.currentSection());
	}
private:
	QDateTimeEdit _edit;
	QPushButton * _btn;
};
#endif
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  When pressing the button, section is changed as expected.
				
			
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