I just dragged an image from iPhoto to Photoshop and edited it there. Then I saved a copy as .jpg and dragged the copy back to iPhoto to keep it in the library. The colours seemed off, so I tried to save as .psd and drag the psd into iPhoto since I know iPhoto undestands .psd. Sure enough, the image imported and this time the colour were the same as seen in Photoshop. This is how it looked in iPhoto: Then I tried to open both saved files (.jpg and .psd) in Preview. Both looked correct there: Photoshop Elements is set to "No Color Management" and both files were saved with "Embed Color Profile" unchecked. Why did this happen. It seems like it's iPhoto that is the offender, doesn't it?