Depends on your definition of _off_.
The Pandora can wake to an alarm the same as a PDA or phone can -- ie: in their 'low power mode'.
An _off_ PDA/phone is _off_ and isn't waking up to anything; when you press the power button on a pda and it just turns 'off' immediately, its just 'asleep', and an alarm can wake it; a pandora is the same.
Its just the pandora isn't all tuned up to be asleep like that, and its a lot of work to get it like that.. but it could be in the cards sometime. (ie: a lot of drivers need work, and its not a pandora thing per se, its a linux on ARM thing in general.)
But certainly, with the 'low power mode' you have now, that _sort_ of thing, that coudl easily be programmatically awakened from (turn the screen back on, re-enable networking, etc, when an alarm goesd off. piece of cake.) Its just (imho) that right now, the pandora isn't lasting enough in low-power-mode that I want to leave it in that state all day long, unless you're keeping a charger at your desk
Someday..
jeff