Err.. It does see both cores, even though the drop down box is grayed out.
So its working right.
As far as the memory speed is concerned. It's correct for stock speeds. If he increases the memory speed to a 1:1 ratio, he's OC'ing it. (assuming its DDR2 667)
Which would cause it to run at 3.3 ghz. And without adjusting the bios accordingly (voltages), it will prolly be an unstable OC.
The task manager... well, you might have it set to one graph for all CPU's.
If you want separate histories... view/cpu history/one graph per cpu