How are timezones handled in CiviCRM?
For us, there were a couple of changes that made this to work. First, in the database, the civicrm activity_date_time type was modified to be a timestamp. This made it so that when CiviCRM saved the date and time it was stored in the database as UTC once the Drupal timezone was also set to UTC (but users are able to select their own timezone and it behaves appropriately). According to developers in the CiviCRM IRC, this change can be made for any CiviCRM date time type. We also set our OS time to UTC. With just these changes, the Calendar View was still not displaying correctly because it was being adjusted twice. To fix that, we set tz_handling to 'none' in the function civicrm_date_views_fields in civicrm.views.inc.

Hope it helps somebody else!