If the balance is on the address for the private key on the blockchain, it should be there.
I presume you have looked on blockexplorer/ blockchain.info that the balance is there for the receiving addresses you have listed in MultiBit.
Possibilities:
+ Maybe the import format for the key is different to the export - it should be the standard sipa wallet format.
(You should also see the same bitcoin addresses in both MultiBit and Armory which would indicate the import+export formats are the same).
+ Perhaps Armory is rounding the display in a similar way to MultiBit

(sounds pretty unlikely I must admit).
You could also try importing the private key file into the blockchain.info wallet - it loads straight in in the "Import/Export | Import wallet" textbox. There is a checkbox for the Multibit (sic) format. I have tried this out before so this definitely understands the MultiBit key format. You sometimes have to log out of blockchain.info and back in again to get it to refresh the BTC amounts.
Let me know what you find out as I have not heard of anything similar happening to anyone else (yet).