Hello Laura,
What version of the calendar are you running?
What version of WP do you have?
The All-in-One Event Calendar is set up to display numerous events per day. It should not be limiting you to only two events.
When you add more than two, are you still able to publish them on the same day? Although they do not show up on the front end, do they still appear in the backend?
To help us resolve this issue, can you please try the following:
1.) Temporarily change your theme to WP default Twenty Eleven and check to see if more than two events are displayed on your calendar, or if you can add more than two events per day. If this does not solve…
2.) Deactivate all of your plugins (except the calendar) to see if this resolves the problem.
This will help us to rule out some possible causes.
In regards to the time being displayed, we can hide this feature by editing the CSS. If you send us the link to your site, we can tell you exactly what to edit.
Thanks.