Q: The colors in Photoshop are all wrong. They have a neon look or are discolored with a blue, red, green or Yellow cast. I look at the same pictures in other applications and they look just fine. How do I fix this?
A: Recalibrate your monitor using Adobe Gamma (OS9) or the Displays Control in System Preferences (OSX). Photoshop uses your monitor profile to display your images other apps don't. Be sure you start the recalibration using a fresh monitor profile (sRGB or the profile that came with your monitor for example). If you try to recalibrate using the old corrupt profile you will still have a corrupt monitor profile and your color will still be bad. Also, if you are using OS 9 make sure you are using ColorSync 3.0.4. The 3.0.4 patch is available on the Apple web site.
See also support document 319456, "Colors Are Incorrect (For example White Appears Yellow)" at http://www.adobe.com/support/techdocs/319456.html. The document is for Windows, but it may be useful for Macintosh.
Here is another link to monitor calibration http://www.gballard.net/psd/colorlooksbad.html