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The success of any windows app on linux depends also on the availability of required DLL's.
My Linux box runs MSInternet Explorer by using the command
wine "/home/username/.ies4linux/ie6/drive_c/Program Files/Internet Explorer/IEXPLORE.EXE" "$@"
Try out if a full pathname or putting quotes around your path solves anything. Also make sure that wine is installed properly, by running some windows application with minimal system resource requirements (start with some text editor, not with Adobe's latest powertool).
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