Lightroom :: Edit In Photoshop - Apply Some Presets At The End To Render?

I'm running LR3 and CS5 on a MBP Lion, and I'm working directly with RAW files. I have adjusted the images in LR and used 'edit in photoshop' to correct blemishes on some photos. I want to apply some presets at the end to render a couple of different looks (B/W and Vintage) to the final edited image. However, I find that after the file comes back from PS, it looks good, but the photo gets 'normalized' and the develop module tools get reset to zero. Hence my presets totally blow the 'edited in photoshop' image while it works just fine on the original raw.
 
I have also tried to work on the original image prior to any LR adjustments. Same thing, after coming back from PS, both stacked files look similar, but at the time of running the preset, the 'edited in photoshop' file gets blown out.I do not have any auto adjust settings turned on. No presets running on import/export. What am I doing wrong?