Timezone for cron jobs
After changing the time zone, restart the crond service is enough, no need to reboot. Don't know why your cron is still using the EDT timezone, but insert a below line before your cron line:
TZ=Australia/Melbourne
* * * * * ...
and try again.
I had the same problem - after I changed the system's timezone, cron's log entries were in the old timezone, even after restarting crond. Then I noticed that ALL log entries were off - messages, mail, and any other programs using syslog.
service rsyslog restart
The first thing syslog does is log a message (naturally enough), so I was able to see that it had the correct timestamp. I restarted crond, just to be sure, and its log entries were correct, as well.