I'm also seeing only one processor in Task Manager with my Core Duo computer (Dell Inspiron E1505). I've tried checking the options for "CPU History" under "View" in Task Manager, but the only option is "One Graph per CPU." I used to see two graphs (the last time I checked was a couple of months ago), but I only see one today.
I just checked Device Manager-->System Devices-->Microsoft ACPI-Compliant System, and it says "on ACPI Multiprocessor PC." As far as Task Manager seems to know, however, I have a single processor PC.
I've been trying to troubleshoot this for an hour or so, and this is the only resource that provides a relevant answer other than "change CPU history to 'one graph per CPU'." So, what if I already have CPU history on "one graph per CPU" and the Device Manager indicates that I have "ACPI Multiprocessor PC"?