Ahh - so that's what that "mouse wheel flips pages" option should do while in paged mode. On my various machines it does nothing in paged mode.. The pages still flip 2 at a time [when showing 2-pages-per-screen]. It doesn't just flip 1 column.

---- I always update to the latest Calibre version on all machines. Using both WinXP(x32-Intel) machines and one Win7(x64-AMD). The viewer behaves the same in this regard on all these machines.
EDIT: NOW I'm seeing both mice wheels behave as you said this should (one column at a time), but it wasn't until after I tried using the keyboard's cursor pad to change pages/columns.
As far as the flipping more than 1 page - yes, it is due to my 2 mice having free wheels.. One is a Microsoft Natural mouse 6000 for it's ergonomics and the other is a Logitech with one one of those fast free-spinning wheels. The Logitech has an option to make it clickable, but I find the freeness to be extremely useful - The M$6000's wheel is more slow (rubbery?) moving with no option for clicks unfortunately.
Would it be too difficult to make the mouse wheel act as if I'm pressing the next-page button on the left? Or at least have it be an option under the page flip settings? The 'page-flip duration' setting would help prevent more than one page flip while still keeping the usefulness of the free spinning wheel.
---- This would be an accessibility feature request due to my physical limitations. So if it wouldn't be too difficult, it would be awesome if that could be added/changed.
Plus also, I think it would make Calibre appear to be more consistent with regard to flipping pages.

EDIT: And/or --- maybe have some setting to restrict how many wheel clicks are allowed/registered within so many milliseconds or something.. I may like that column 'flipping' now that the option appears to be working correctly.
Many thanks,
Brian