Colour issue with Olympus E330 and Adobe Camera Raw (ACR)

See images with color problem on:
http://antoine.garric.free.fr/e330_acr_color/

I face the following issue:

When using the following work-flow:
Olympus E330 - Raw format - ACR (Adobe Camera Raw) - sRGB image

I get colours that are not good to me. The "red" colours are flat and
pinkish.

Instead if I shoot the same image in sRGB JPEG or convert the raw
image using the Olympus program: the results are correct.
I tried to apply colour correction in ACR, (calibrate tab). I followed
the procedure proposed by Bruce Fraser in his book "Real World Camera
Raw with Adobe Photoshop CS2: Industrial-Strength Production
Techniques" (see http://safari.peachpit.com/0321334094), by the way
this is an excellent book to read if you intend to use ACR.

It is a bit better but the color is a bit pink, and applying this to
other images does not work well. I believe that this "calibration"
method is probably good if you want to do small adjustments, but in my
case I believe that the raw colour model of the E330 is probably not
well understood by ACR and the adjustments cannot cover the gap.

Any help is welcome, can someone recommend a profile or work around
using ACR. Or anybody else using another RAW tool with the Olympus
E330 and getting good color results.

Thanks in advance,
Antoine