via this auction
"Rare digital watch made by Seiko called FREQUENCY.
FUNCTIONS: chronograph, alarm, calendar, metronome, BPM counter and built in DRUM MACHINE!!!.
( metronome, 6 rhythm patterns and swing on/off etc.)
Ideal for musicians, DJ's and collectors.
Has 2 displays on the watch. One is LCD on the front, the other is red LED on the top.
Colour is BROWN."
Update: additional colors on Ebay here including red, yellow, and clear added below.
Update via guy in the comments: "It's kind of crap, but I managed to find a video of it.. http://www.flickr.com/photos/dontknow/6647012957/"
I couldn't find the embed option, so you'll need to click through for this one.