Yep PPC Profiles is the problem. I had it installed and experienced the same problem as you. There are only two ways to fix it (as far as I know) First way is if you have a back up of your phone that doesn’t include the Profiles app, you can delete the profile app and restore only the registry and that will fix the problem. The other method is to hard reset.

Kinda sucks because the PPC Profiles app is a wonderful (free) app.

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When Palm announced today that its new smartphone would run an operating system from Microsoft, it was the equivalent of Coca-Cola agreeing to fill its bottles with Pepsi." ~David M. Ewalt, Forbes Magazine