Jeff and gsr2k thanks for the tips.
Actually, I didn't know about the valet mode a while back - I thought the alarm was actually busted and was in the market looking for a new one - turns out the alarm was in valet mode the whole time!
So basically what you're saying is if the alarm is going off, I can just hit the valet switch to the left or to the right and the alarm will turn off?
I don't have the car with me at the moment but hopefully that's the answer!
... but if it is, a thief can easily disarm the alarm... and the starter kill!