Scott,
That same cable is sitting on my desk. Check it out with an ohm meter and you'll find pin #3 is connected to the tip--not pin #2. Pin #1 is connected to the sleeve.
Gary
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PSR-S950, TC Helicon Harmony-M, Digitech VR, Samson Q7, Sennheiser E855, Custom Console, and lots of other silly stuff!
K+E=W (Knowledge Plus Experience = Wisdom.)