Photoshop doesnt like my new monitor?

I picked up a LG 22" Widescreen LCD monitor to have a dual monitor setup. I only have the new one (main screen) plugged in so far and when Photoshop is starting up it says my monitor calibration is defective, reinstall. When I say ignore or continue everything in PS is peach colored?

Heres is what I have:

Windows XP (all updates current)
ATI X300/X500 w/current drivers connected via DVI
LG Flatron w/current drivers installed
Photoshop CS2

I even installed the software for the monitor to calibrate it, and un-installed then re-installed all of the new stuff even PS. My other monitor that PS liked is a 19" LCD Samsung, its not a big difference.

Help?

Have you tried uninstalling the LG profiling software? Or at least removing it from startup so it doesn't load the bad profile? I had the same monitor for a little bit and couldn't get a good profile from the LG software. I ended up using Adobe Gamma to get a useable profile.

It did it before I put the software on, so I installed the software and it still does it. Is Adobe Gamma apart of Photoshop or a separate software?

EDIT: Ahh sweet thanks for the tip..

If you have Adobe Gamma and a profiling software running they will conflict. Either make sure that Adobe Gamma is the only one running, or make sure it isn't and you only have one calibration program running.

Thanks prime, PS isn't showing any errors and the colors in the swatches look dead on.

Thanks EOS, I removed the installed software. Adobe Gamma is only running.

sumyungguy,
I went though this with my LG's also. It is actually the profile that ships with the monitor, there is something out of spec in it. Actually PS, doesn't care about the issue, and will run just fine, about a week after I upgraded to an imatch, and started using custom profiles and never saw the issue again so didn't troubleshoot that much.

Turns out the monitor had a bum DVI input, top was red toned and bottom was green, got a new one today and everything looks right.

Celtic thanks for your help, all id good now

Great news! Enjoy I loved mine ever since I bought them!