The > operator only works on numbers, not on times with comma's in it...
If you want the time to be on the hour, you can do:
if ($time(H) isnum 7-20) set %speelmode ON
else set %speelmode OFF
The H gives you hours in 24h mode only, no minutes or seconds. See /help $asctime for more format parameters.
However, a timer can also have a hour parameter:
/timer 7:00 1 1 /set %speelmode ON
This would execute once at 7am
