IE Error: Temporary Folders

For those of you who move your Temporary Internet Files folder for whatever reason, here is one that made me phone Support: After the recent run of Windows Updates, my IE refused to launch, displaying only this dialog:

Pasting into Live Writer makes that unreadable; it says: Do you want to save this file? Name: navcancl, Type Unknown File type, ... ieframe.dll ... almost as if it forgot how to deal with HTML files.

Strangely if I ran IE as Administrator, it worked just fine. Now if I could think of just one app I'm less likely to run as Admin than IE, perhaps I wouldn't have had this conversation with Support!

Anyway, the short of it is that I had to explicitly grant myself permissions on that relocated folder. I guess the recent Windows Update reset or enforced some check / setting. According to Support it would also have worked if I just changed the location back (or perhaps they meant if I just made I create the folder again). Either way, both options seem to work just fine.