This is not a Chameleon issue. Welcome to The Black Hole!
Another way to "fix" this, is, in OS X, to set your location to Reykjavik, Iceland, set the time manually, and disable automatic time synchronization.
If you're running Windows 7 the registry edit is the best solution.
Just don't try to manually correct the time in your BIOS, it's supposed to be wrong because it is now UTC instead of local time.