This component/module is a powerful tool to organize a schedule of events, but its emphasis is on regular, recurring events. You have many options to define in which week, in which month, under which circumstances an event has to be displayed. Sadly there were several small flaws regarding the regular events (e.g. ordering problems), but they are solved in a new version which is available at http://zephyrsoftware.sourceforge.net/.
Also in this new version: for the first time you can suspend regular events on single days without having the hassle of ending the publication for one event and creating another to cover the time after the day of the suspended event!