We describe the temporal evolution of the time-resolved photoemission response of the spinless Falicov-Kimball model driven out of equilibrium by strong applied fields. The model is one of the few possessing a metal-insulator transition and admitting an exact solution in the time domain. The nonequilibrium dynamics, evaluated using an extension of dynamical mean-field theory, show how the driven system differs from two common viewpoints - a quasiequilibrium system at an elevated effective temperature (the hot electron model) or a rapid interaction quench (melting of the Mott gap) - due to the rearrangement of electronic states and redistribution of spectral weight. The results demonstrate the inherent trade-off between energy and time resolution accompanying the finite width probe pulses, characteristic of those employed in pump-probe time-domain experiments, which can be used to focus attention on different aspects of the dynamics near the transition.