I cannot see any issue with the fx rate since both the project currency and company currency are the same in relation to Michael Snow. I have previously advised that running anything in company currency can yield unexpected results since working org values are displayed in the currency of the other the company they belong to. It is best to use a converted currency, in this case THB and the result is as expected.
Perhaps Francois can add to my explanation as to why the C006 org values are not displaying correctly when viewing in Company Currency. You might like to provide him with the inquiry you have run so that he is looking at exactly the same thing you are looking at.