etherchannel problem

Hi Guys,

As you see below even channel group configured as mode on it is shown as
protocol pagp.What would be root cause for this?

sh run int g1/23
Building configuration...

Current configuration : 722 bytes
!
interface GigabitEthernet1/23
 switchport
 switchport trunk encapsulation dot1q
 switchport mode trunk
 carrier-delay msec 0
  mls qos trust dscp
 spanning-tree link-type point-to-point
 channel-group 2 mode on
end

sh etherchannel summary
Flags: D - down P - bundled in port-channel
        I - stand-alone s - suspended
        H - Hot-standby (LACP only)
        R - Layer3 S - Layer2
        U - in use f - failed to allocate aggregator

        M - not in use, minimum links not met
        u - unsuitable for bundling
        w - waiting to be aggregated
        d - default port

Number of channel-groups in use: 1
Number of aggregators: 1

Group Port-channel Protocol Ports
------+-------------+-----------+-----------------------------------------------
2 Po2(SU) PAgP Gi1/23(P)

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Received on Tue Aug 31 2010 - 19:11:33 ART