I see all kinds of complaints about people not being able to schedule
meetings between participants in differing time zones. In the following
article Microsoft describes how it works...
http://support.microsoft.com/kb/1959...d=2520&sid=945

Does it not work that way?

1) Set up an additional time zone to show two time zones on your calendar
2) Use the default time zone to book an appointment in you are hosting the
meeting or swap time zones if you are traveling to the meeting.

I wish Microsoft gave us a clearer way to handle this and the option for a
few more additional time zones and possibly colours for visual clues.