Yes, it's probably time to start checking up on your computers and software to find out if there will be a problem in the year 2000. Departments, of course, should have started planning for Year 2000 compliance a long time ago, but individuals have a bit more leeway as they don't have to get approval and funding for the project from a bureaucracy. There are a couple of problems that most PCs will have. The first is the RTC, the Real Time Clock. Its job is to set the software clock for DOS or Windows when you turn the computer on.
Some machines also have a problem with leap years.
This can cause all kinds of problems with any program that uses dates, e.g., accounting programs, programs for monitoring experimental equipment, etc. It will simulate the end of the century harmlessly, checking to see if your real-time clock and other hardware will cope with the year 2000. The screen will display the results of the test, and you'll have a good idea of what to do next. Also, remember that Apple computers won't have this problem. Of course, the system date is only part of the problem.