Shield icon on app in Program Files folder

I'm building an application that doesn't need administrator privileges
so I'm adding a manifest to it as part of my .rc file:

CREATEPROCESS_MANIFEST_RESOURCE_ID RT_MANIFEST MOVEABLE PURE
{
"<?xml version='1.0' encoding='UTF-8' standalone='yes'?>
<assembly xmlns='urn:schemas-microsoft-com:asm.v1' manifestVersion='1.0'>
<assemblyIdentity
name='MyApp'
version='2.3.1.7728'
processorArchitecture='x86' type='win32'/>
<description>MyApp</description>
<trustInfo xmlns='urn:schemas-microsoft-com:asm.v2'>
<security>
<requestedPrivileges>
<requestedExecutionLevel level='asInvoker' uiAccess='false'/>
</requestedPrivileges>
</security>
</trustInfo>
</assembly>"
}

when the build is done, the application's icon correctly doesn't have the
UAC shield on it. Yet when it's installed into:

C:\Program Files\MyApp\MyApp.exe

it has a shield. Why?

FYI: My development environment is gcc under Cygwin.

- Paul