This is outlook's gayness at it's best- Outlook and windows when panicking will sometimes set your timezone to Pacific for no good reason other than to irritate you. On occasoin, it even does something stupid like the daylight savings time or a different time zone. Again, just to make you mad enough to do a George Carlin impression.
Go into your time, set your timezone as appropriate, and be sure to set the time as appropriate if needed. Then tell it to apply, restart outlook and be happy as the time has restored itself. 90% of the time I"ve seen outlook do this, either your machine or the client machine have an improperly set timezone.
Hope this helps. If it doesn't, can you perhaps post a meeting invitation's header here?
