It's interesting that your display agrees with the output of a DOS Attrib command, but if you right click on any folder and select "Properties" then Windows Explorer always displays Read Only attributes of a Folder like this.
Edited by <!profile=StuartR>StuartR<!/profile> to add
According to <!mskb=326549>Microsoft Knowledge Base Article 326549<!/mskb>
<hr>"The Read-only and System attributes is only used by Windows Explorer to determine whether the folder is a special folder, such as a system folder that has its view customized by Windows (for example, My Documents, Favorites, Fonts, Downloaded Program Files), or a folder that you customized by using the Customize tab of the folder's Properties dialog box. As a result, Windows Explorer does not allow you to view or change the Read-only or System attributes of folders.<hr>