See the uploaded images. Additionally if I click on the "set" button in the Main window under color management I get another screen that does indicate ColorSync under matching.
Because Canon drivers are special casing all application that print using Apple new printing path that is what I thought would happen. This manifests itself when application manages color is selected.
Until Photoshop 12 is listed in the AppColorMatchingInfo.xml file color management can not be turned off in the driver. Yes if your sending Canon's default profile that matches the media setting defaulted to that profile in the ColorSync Utility it will work because your double profiling with the same profile, but it will not work if are using custom profiles. This is the very same thing that happens with the LR3 Betas.
This is what will need to be added to the AppColorMatchingInfo.xml for PSCS5 to print correctly with custom profiles.
This is what is set for CS4 to print correctly.
<string>Adobe Photoshop CS4</string>
CS5 will need to be added into the AppColorMatchingInfo.xml file.