I'm no scholar of course, and this is not a fatwa, however:
We have been told that:
Originator of the heavens and the earth. When He decrees a matter, He only says to it, "Be," and it is. Source: http://quran.com/2/117
i.e. he can do anything and everything he wills. So I think if Allah wanted to change time he could, but I don't think he will because we know that Allah always does what he says, i.e:
O Children of Israel, remember My favor which I have bestowed upon you and fulfill My covenant [upon you] that I will fulfill your covenant [from Me], and be afraid of [only] Me. Source: http://quran.com/2/40
We also know about the Al-Lauh Al-Mahfuz, where Allah has recorded everything:
Do you not know that Allah knows what is in the heaven and earth? Indeed, that is in a Record. Indeed that, for Allah , is easy. Source: http://quran.com/22/70
It's because of this, it seems that Allah can change the past if he wanted to, but he won't because he is truthful and will probably will not wantneed to prove his own Records wrongbecause Allah does not make mistakes which he needs to correct i.e. the Al-Lauh Al-Mahfuz, unless of course he wrote in the Al-Lauh Al-Mahfuz that he will change the passed, for whatever reason.