Running Vista SP1 Business.
The Software Manager component shows programs that are not actually installed on the system. I have a special folder out on my D partition and it contains the downloaded installer/source for various programs. Several of these programs are not currently installed. The Software Manager however, displays these programs as being installed. They are not in the Programs and Features list of Vista either. They may have been installed at one time, but have been uninstalled. This makes the list of installed programs in Software Manager very confusing and inaccurate in my opinion.
This is not new to V1.8.0.445 but has been in previous versions as well.