The PS3's colour capabilities are more advanced than the PS2's. It's hard to say where exactly the fault is in this case, but it sounds like the PS2 is expecting the monitor to do some sort of colour detection, and it's not, whereas the PS3 is doing it right in hardware, so the monitor runs it just fine. Is the PS2 hooked up to the monitor through this AV multi adapter, or just the PS3?
Needless to say, this doesn't sound like something that can be corrected for this monitor.