Everything is real-time, all you need to do is bring up the Time Of Day editor and mess around with the parameters and see it updating in real-time. There's no lightmaps in CryEngine.
Thanks guys, I fixed it after your comments. I'm bad because I hoped it would go unnoticed :P More work done today, going forward on the village. Obviously lot's left to be done and have it looking alive. windows, doors, etc. And since polycount is not your blog, I'll add a this little link to my new blog, where I go into…
Small update, more polishing done on atmospherics, and a bush test. Reworked waterfall shader. It's more noticeable and looks closer to what I first made, which a lot of people preferred.