Invalid user expectations (failure to RTFM), most likely.
A profile has nothing to do with changing the settings of the projector, default or otherwise. A profile is simply a mathematical description of the color behavior of a device. When you profile something, the profile is only valid as long as the device's color behavior strays the same. So if you alter device settings, you have invalidated the profile and need to make a new one. All a profile does is let a color-aware app like Photoshop know what RGB value to send to a particular monitor to make it display a given color. Setting or selecting a profile will not alter any of the projector settings.
If you are using a color-ignorant app like PowerPoint, the profile will not be used, because the app simply sends RGB color values to the projector without regard to what actual color those RGB values represent. If you want to actually use your profile, you'll have to find either a color-aware alternative to Powerpoint, or else a Powerpoint add-on that adds color management functionality to the program.
Try configuring your laptop for dual-monitor use by setting the desktop to extend across both monitor and projector, as opposed to projector simply mirroring the laptop screen. A color-managed app will match colors between them within the gamut limits of both displays, and a non-color-managed app witt generally show a much greater color difference.