Hi Mjack,
The colon in h:mm is an illegal character for a filename, try h_mm.
You also need an ActiveWork book, if it's not set earlier in your code

With ActiveWorkbook
.SaveCopyAs ThisWorkbook.Path & "\backup\" & _
Left(ThisWorkbook.Name, InStr(1, LCase(ThisWorkbook.Name), ".xlt") - 1) & _
" - " & Format(Now, "m-d-yy h_mm a/p") & ".xls"
.Save
End With
MD