When a place on a clock says +/- to another clock, is that a one-time effect that kicks in when you reach that point, or is it a modifier that you lose when you move to a higher/lower place in the clock? I feel like it should be the second, so that, say, yo-yoing between 6 and 9 o'clock on Food doesn't tank your Morale. Does that make sense?
I like it, especially if there's actually a Hardholder in play. I sort of feel like if there isn't a Hardholder, maybe people didn't want to deal with making sure everyone's needs are met, so it'd be a read of your group about whether stuff like this needs careful tracking or whether it should just be a general "Water is scarce, people are desperate, the NPC hardholder might hire the Gunlugger to go secure some more." Although I suppose that if there isn't a Hardholder in play, only the descriptive part of countdown clocks come in to play, and it might give you a sense of what else goes wrong when X runs out.
Since the bonus/penalties to other people's rolls only come in at the very ends of the clock, I'm not sure they'll add much investment, per se; they're not likely to be good citizens enough to push it to the bounty side, and I'm not sure a -1 is much of an incentive beyond what people already have to prevent their society from collapsing.