The bad think is that Outlook uses the system DST table to write the Calendar time correctly in UMT time + or - for the timezone your in. The bad thing is if you haven't patched all your desktop OS systems in one fell swoop and then run the TZmove utility immediately you have that wonderfully screwed up grey area that should be spelled out at the top of KB articles. You have to know whether the items were created in Outlook prior to or after the DST patch was applied to OS, because if you don't the items created after the OS patch will be changed to be incorrect with the same TZmove utility tool designed to fix the prior patch appointments. This is one hell of a mess from my point of view. Microsoft should have wrote a smarter utility to deal with this mess. Even if they had that wouldn't necassarily take into account the users that may have machines at different patch states and both have been used to schedule appoinmtents.
One solution that enables to pick the items to correct is change the calendar to Event view and add the created field to the view before running TZmove and compare the install date and time for the OS patch and modify only the re-occuring and calendar items that fall into the Extended DST period created before you applied the OS patch and uncheck all that were created after the OS patch.