When I copied what you had on here, it did something with the quotes around the time in your if statement and in your execute statement. I'm assuming something changed when you copied it over though. I'm not sure why it would run from your script console though. Backlashes are considered escapes in python. Have you tried doubling them up and seeing if you get a different result?
from time import localtime, strftime
execTime = strftime("%H:%M", localtime())
if execTime == "10:25":
system.util.execute(['C:\\Program Files\\Microsoft Office\\root\\Office16\\EXCEL.EXE', 'C:\\data\\some_macro.xlsm'])