Here is one that works better for me (LINQPad version):
DateTime d;
DateTime.TryParseExact(
"2010-08-20T15:00:00Z",
@"yyyy-MM-dd\THH:mm:ss\Z",
CultureInfo.InvariantCulture,
DateTimeStyles.AssumeUniversal,
out d);
d.ToString()
produces
true
8/20/2010 8:00:00 AM