If it's just a static thing that will never change, I'd put it in the second, or just in the handlebars template.
Additionally
since you aren't setting an object on the application controller, it doesn't really need to extend the ObjectController, you can just extend Controller.
Ember.ObjectController is part of Ember's Controller layer. It is intended to
wrap a single object, proxying unhandled attempts to get and set to the
underlying content object, and to forward unhandled action attempts to its target.
In the future, if you are overriding the setupController it's usually recommended to call this._super(controller, model) like:
setupController: function (controller, model) {
this._super(controller, model)
controller.set("title", "Foo Bar")
}
setupController's default implementation is to set the content on the controller, so technically it makes no difference that you aren't calling super.
In the case of a dynamic title, I'd make it a computed property:
App.ApplicationController = Ember.ObjectController.extend({
title: function(){
var currentdate = new Date(),
title = "Awesome Title: " + currentdate.getDate() + "/"
+ (currentdate.getMonth()+1) + "/"
+ currentdate.getFullYear() + " @ "
+ currentdate.getHours() + ":"
+ currentdate.getMinutes() + ":"
+ currentdate.getSeconds();
return title;
}.property()
});