The reason (as Arvo implies) is that there is no sense in which datetimes can be added to each other.
You can create a crystal formula to derive the number of seconds since midnight in a datetime field - this would look like:
Hour ({MyTable.MyDate}) * 3600 +
Minute ({MyTable.MyDate}) * 60 +
Second ({MyTable.MyDate})
(Crystal's DateTime functions can be found in the Function Tree in the Formula Editor dialog, under the Date and Time option.)
The formula field could then be SUMmed like any other numeric field - the result would be expressed in seconds.
EDIT:
Assuming there are no padding characters in l1, a formula item with the expression:
ToNumber (Left (DefaultReportPlugin_DetailedDailyReport_ReportData.I1, 2)) * 60 +
ToNumber (Right (DefaultReportPlugin_DetailedDailyReport_ReportData.I1, 2))
would convert the string to a number expressed in minutes. (The Left, Right and ToNumber fields can be found under the Strings option in the Function Tree in the Formula Editor dialog.)
A sum of the formula (expressed in minutes) can be displayed by inserting the formula item into the report, right-clicking on it and selecting the Insert > Summary...
option from the dropdown menu.