Colour management not working?

[pxl8]

To help demonstrate the problem here's a screen grab show the same image in 3 apps:

PSPX2, Windows Photo Gallery, Photoshop CS2



Note the difference in the reds between the left hand image (PSPX2) and the other two. Checking the values with the picker shows there is a clear difference. The two on the right are the correct colours and match a print, PSPX2's version isn't and doesn't because it's not being colour managed. The result is the same regardless of whether colour management is turned on or not.