Thanks for the pointer! Good stuff there. I'll try it and see if indeed that's the case.
EDIT [Warning: Science ahead]: So I found another way to check what's going on. I have a Watts up? PRO unit in my office, this is basically a meter monitoring how much power a device running in AC mode is drawing. So I plugged in my Seidio Charger with an iPod and I see 2.5W, without accounting for the efficiency of the meter the Sedio is providing roughly 500mA@5V. now I plugged in the Treo Pro with its charger and I saw the phone went up to 4W, something like 800mA@5V. Definitely more juice.
My guess is The Pro does detect the Seidio charger (detects the 5V across the USB power pins) but since the charger cannot provide enough current it then shuts off the internal charging circuitry. So either Palm adjusts the current rating via a patch later or simply I'll go out and buy a high-current USB charger, which may be the way to go if I'm the only one having this problem