I ran into a somewhat similar issue (bug 120258).  Can you see what happens 
when you launch the Live CD if you do this?
In gconf-editor, set apps->gnome-power-manager->use_profile_time to FALSE 
(unchecked).

If that fixes it, then this is a dupe of that bug.

** Changed in: gnome-power-manager (Ubuntu)
       Status: Confirmed => Needs Info

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Battery Level Indicator Bug - HP Compaq NX7000
https://bugs.launchpad.net/bugs/47443
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