Timestamps Causing Write Conflicts

I have an Access XP ADE application connected to a SQL Server 7.0 SP4
database. I have created a timestamp column in the main table.
Unfortunately, I am now getting persistent write conflict errors.

The order of operations are:
1. The application starts and loads the recordset into the form using a
stored procedure.
2. I modify a field and press a save button which uses me.dirty=false to
force a save.
3. The field is saved to the database. Using profiler I can observe the
modified field being saved. As I would expect, the update statement is
using the primary key and the timestamp column value. For the sake of this
discussion let's assume the value of the timestamp is 5ad9.
4. Without navigating off the record, I alter the same field (or a
different field) and press save again and a write conflict will appear.
Using profiler I can see the update statement that is attempting to update
the record. The update statement is using the previous value (5ad9) of the
timestamp column.

I thought that the timestamp column value is incremented each time the
record is updated. The ADE application does not appear to be recognizing
the new timestamp value.

Any help or advice you could give would be appreciated.

Thanks
George