see this thread.  http://www.experts-exchange.com/Databases/IBM_UDB/Q_21827727.html
Stored procedures with output parameters will display results in Run Scripts Message window in iNavigator.
I have experienced the same results.

> Date: Tue, 26 Jan 2010 09:19:22 -0800
> From: KC.Baltz@Copart.Com
> To: squirrel-sql-users@lists.sourceforge.net
> Subject: [Squirrel-sql-users] Call DB2/AS400/iSeries stored procedure?
> Is it possible to call a DB2/AS400/iSeries stored procedure from Squirrel? I
> seem to be having trouble with the ones that have OUT params. It always
> complains that the number of parameters is incorrect.
> If the sproc is declared like this:
> foo(IN, OUT)
> I've been calling it with:
> call foo('inparm', ?)
> Is that the right syntax? I've read there's a DB2 plugin and my copy of
> squirrel (3.0) appears to have it, but I can't tell if it's working.
> --
> View this message in context: http://old.nabble.com/Call-DB2-AS400-iSeries-stored-procedure--tp27315245p27315245.html
> Sent from the squirrel-sql-users mailing list archive at Nabble.com.
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