Configuring preferences and options in Outlook.com
Figured I too would reply to this thread as it seems to be the most active ATM. I have noticed this issue for a while with my and my wife's accounts. We also share calendars and when I get emails of new/updated items to her calendar they come to me with the time zone set for Monrovia, Reykjavik instead of Central Time which both of our accounts are set to. Not sure if this well help or not but is happens whether we use the web application (outlook.com) or the Outlook app on Android. If there's anything I can do to help debug this issue, please let me know.
Wayne