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We have solved two sets of light curves of HD 12545 at its epoch of extreme spottedness in 1990-91, one of which coincides with an independent set analyzed recently by Strassmeier and Olah. Even for the huge amplitudes observed, these light-curve solutions did not give reliable determinations of several important spot properties. Specifically, we find that we could obtain acceptable solutions for a wide range of inclination; that spot temperature depends on inclination assumed, falling in the range Delta-T = Tstar - Tspot = 650-1200 K for inclinations of 70-30 deg; that spot latitudes derived from the light curves are unreliable; and that our independent spot solutions disagree with Strassmeier and Olah's. On a more positive note, changes in the light curve over the past five years seem to have been caused primarily by rearrangement of persisting spot groups, and we note that the high level of activity implied by its H-alpha emission, makes HD 12545 a prime candidate for a white-light flare star.