What would be causing Internet Explorer to lock up and not display the webpage linked to a desktop shortcut?

For example, on this pc having trouble, I open IE and go to Google then File>Send>Shortcut to desktop. Now I try to use that shortcut I just created, IE opens, but locks up and I must kill the process. BUT... I can open IE just fine by using the standard windows shortcut for it, just not shortcuts to websites. I believe the machine has IE8 if that helps any.

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What are the actual contents of the shortcut (view it in Notepad)? Is "this pc having trouble" only having this specific problem? Does it work as expected in Safe Mode with Networking? How about when logged in as another user? – techie007 Dec 1 '11 at 20:25
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