ie5 will not start on NT4 server

Not sure how to fix this,
I came into it after the damage was done.
The reg. has also been violated.

So here we go. When you “click” on a icon or go threw programs when you active ie5 you just get a flash screen for a 10th of a second! There isno sign of ie5 in ad/remove programs and If you try to reinstall you get the same result.
any ideas?
I don’t want to have to rebuild the box if I don’t have to.