Scheduling and managing events using Outlook.com calendar
Bah, did the same to me as well.
I went back and removed the calendars. Changed the time zone back to UTC. Selected the calendars again. Changed the time zone back to PST. The calendars (MLS SoundersFC, NFL Packers and Seahawks) are back to correct times.
Sadly, this looks like a temp fix if we have to keep doing this everyday. :(