Styles and trends always come back to make a resurgence. Even the monocle has had a brief resurgence among hipsters, though I don't know how long that will last. Hipsters have a way of killing things pretty quickly. On the other hand, hip hop style has a way of always seem cool. People can still rock a jumpsuit and seem pretty cool. Maybe you don't think that's cool at all, but it's at least cooler than the dude with a monocle on.
In this case, we're talking about the Flavor Flav style of hanging a big clock from your neck. That's a style that'll get you street cred and lower back problems all at once. While I don't see this coming back as a serious trend, I'm glad to see there are some old cats keeping it alive.