[Ti] clock in sys pref doesn't agree with menu bar

[MB]

I have this strange phenomena, in OS X 10.4.8 on my trusty titanium
400Mhz, when I've set the clock automatically to time.euro.apple.com, my
time zone is CEST which is 2+ hours compared to GMT with current summertime.

The clock in system prefs shows the correct time when I have set it, but
the displayed clock in the menu bar is 2 hours behind.

If I restart sys pref, the time zone is erroneusly set to GMT. So it
keeps reverting to the wrong time zone.

Same thing if I start Sys pref app as root (with Pseudo). The clock
inside the time panel is correct and the displayed menu bar clock is
still 2 hours behind. The time zone is always correct  when run as root
however. 

How can I prevent that the wrong time zone is set in my user account?

I have deleted the prefs com.apple.MenuBarClock.plist which contains the
property ClockLocation, which is set to 2. It wouldn't seem this is the
correct place for the system clock though, but for a short time the time
is correct. 
 
Any ideas are welcome.