If an event doesn't have a TZID, then what happens to the actual time zone is "murky" --
-- Aqua Mail has some "fallback" logic but so does Exchange (when syncing calendar events in an Exchange account, the app doesn't get original ICAL data, rather it gets Exchange's already parsed representation of that).
If you wish to pursue it, please:
- Check how the event shows in Exchange web mail / calendar
- If it's what you expect it to be, then:
- Please enable Aqua Mail's debug log including "raw session data" (a link to instructions is below in my signature).
- Use web mail / calendar to change the event's color / category
- Back to Android, in the Calendar app, Menu -> Refresh (or Sync, etc.), let it finish, make sure the event's color does update (meaning that Aqua Mail processed the change)
- Send the debug log to support / at / aqua-mail / dot com, and please let us know the *expected* (correct) date/time of the event.