There is a amall chance you have a defective monitor calibrator, but a very large chance you have some settings not right somewhere. Make a screen shot of your PS color management settings and post it so we can see them.
Color management is only useful if every device in your workflow is color calibrated; camera, monitor, and printer. If you use ACR, you can color calibrate ACR to your camera with a Color Checker and the free script found
here. That may be part of why your images are looking too saturated before editing. Buy a Color Checker if you don't have one, download the script, and follow the instructions.
The other cause for the saturation change is your choice of Adobe RGB as a monitor profile. NEVER EVER use an editing space profile as a monitor profile. There is a 0% chance it will give you correct colors, especially Adobe RGB. Most monitors are designed to roughly emulate sRGB, but they change over time, which is why periodic recalibration is necessary. Using Adobe RGB as a monitor profile will result in unnaturally desaturated images on-screen, because Adobe RGB contains many more saturated colors than sRGB. So when switching from Adobe RGB (which will make images unnaturally desaturated) to an actual measured monitor profile (which will show colors as they truly are), you're going to see an increase in saturation. But that is NOT a bad thing, your monitor was not showing correct colors before and now it is. You're just going to have to get used to it.
