I called Microsoft about this problem and after about 2 hours on the phone I came up empty handed. They were unable to determine the cause of the problem and they suggested I rebuild the computer.
I did this and confirmed that the Outlook Web Access site worked as I installed applications to get my computer back to it's original state.
I eventually tracked the problem down to the source control program Vault (http://www.sourcegear.com/).
When I installed the client version 4.0.4 the problem occurred. If I uninstalled and rebooted the computer the problem would go away. Unable to believe it the first time I tried it again. There is no mistaking that this is the problem...
I am speachless...
I contacted SourceGear technical support and they researched the problem and suggested I run the following commands to re-register some DLLs.
regsvr32 "C:\Program Files (x86)\Internet Explorer\ieproxy.dll"
regsvr32 "C:\Program Files (x86)\Internet Explorer\actxprxy.dll"
The second command failed for me as the DLL is not on my system but the problem appears to be resolved.