I think you are looking at a failed update to 2.0.2500.22. In Help/About OneCare, if you see the version as 2.0.2500.14, that would be the case. If it is at ".22" please see this post:
Information to help troubleshoot and resolve update problems -
http://forums.microsoft.com/WindowsOneCare/ShowPost.aspx?PostID=1286736&SiteID=2
If it is at ".14" then, please try the following:
Reboot the PC. The run the Firewall repair tool - http://forums.microsoft.com/WindowsOneCare/ShowPost.aspx?PostID=2468376&SiteID=2
And also the Virus and Spyware repair tool - http://forums.microsoft.com/WindowsOneCare/ShowPost.aspx?PostID=2667445&SiteID=2
Reboot after the tool as completed.
Then, open OneCare and click on check for updates.
If this still doesn't resolve it, please contact support for help -
How to reach support (FAQ) - http://forums.microsoft.com/WindowsOneCare/ShowPost.aspx?PostID=2421771&SiteID=2
*or*
Uninstall OneCare - http://forums.microsoft.com/WindowsOneCare/ShowPost.aspx?PostID=663806&SiteID=2
Download and run the cleanup tool - http://forums.microsoft.com/WindowsOneCare/ShowPost.aspx?PostID=828910&SiteID=2
(note that you will need to save the tool to your desktop and then right click the file and select "Run as administrator" if you are using Vista)
And then install OneCare from http://onecare.live.com and activate with the same LiveID used to originally subscribe.
-steve