Colors messed up with every video I play (Win2000 Pro)

[videoip]

With every different video I play on this PC, I get the colours all wrong. Reds become blues and viceversa. The lightness values are correct though.
VLC is using DirectX video module, and the only other module that'll work is CACA (just good for fun). I've already installed DirectX 9.0c and DivX5 (and played a DivX5 video), but it didn't help.
The videos play fine under Win Media Player, and they also play fine in VLC ran in another PC with Win2000Pro.
Could this be a video card issue?
Thanks for any help.

[The DJ]

probably a problem with your videocard driver that is reporting to support something it does not...

[videoip]

Thanks again for your comment DJ.
However, I was finally able to solve the colour issue by clicking on "Restore Defaults" options under Preferences, which doesn't explain anything but at least works.

[Piglerponken]

Hi,
Try to change color settings from (high 24-bit) to (medium 16-bit)
On the desktop, rightclick and choose Properties/Settings/color quality.
Immediately fied the problem with swapped blue and red.
And btw, the image quality is not affected.

Good luck!

[Skysurfer]

Thanks VideoIP - just read your suggestion after having the same issue and it fixed the problem on my workstation too. (WinXP Pro, nVidia ti4200). Thanks for posting back after you found the solution.

[Dr Vel]

I can switch back and forth between smurf video or normal colors by altering between 16 and 32 bit color modes in desktop advanced settings. I noticed this as I have one old game I must go to 16 bit color to play, when I later play any video after forgetting to switch back to 32 bit color I am in smurf land. Interesting as other posts here suggest going down in color resolution to correct the problem, whereas I find the exact opposite to be true. I can repeatedly change from blue to normal colors, 16 bit = smurf, 32 bit = proper colors.