The traditional order of operations is what the TI series does. In essence, it assumes you want the second form.
By the way, on my HP50G in algebraic mode, typing '-2^2' does give -4.
Miscellaneous support: a random elementary algebra textbook: http://infinity.cos.edu/algebra/Rueger%20Text/Chapter02/2.6_... and a dude from mathforum.org: http://mathforum.org/library/drmath/view/53240.html