Look in the registry, in the HKCU/Software/Microsoft/Office/11.0/Outlook/Options/Mail and HKCU/Software/Policies/Microsoft/Office/11.0/Outlook/Options/Mail keys to see if you have a value named EditorPreference. Also look in HKCU/Software/Microsoft/Office/11.0/Common/MailSettings and HKCU/Software/Policies/Microsoft/Office/11.0/Common/MailSettings for values named NewSignature and ReplySignature
What version of Office do you have?
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Sue Mosher, Outlook MVP
Author of Configuring Microsoft Outlook 2003
and Microsoft Outlook Programming - Jumpstart for
Administrators, Power Users, and Developers