Deven,
This second file also has problems. It looks like it has the same improperly formatted Photoshop / IPTC marker that occured in the first file. So this file doesn't NOT have IPTC, it just isn't formatted correctly. It wouldn't surprise me if some version of PS could read this since Adobe probably gets more bad files they have to work-around than we do.
Rather than try to figure-out what other software might be running amiss here, if you could privately contact me with a (properly formatted) file before being touched by PM and a problem file after PM then I can take a look, but I suspect the problem is not PM (I can't debug other software). It looks like it may be IM, however, attempting to "clear" the IPTC.
--dennis