Interesting.
I do not see right off what is wrong, but from past experience I would say check the pages HTML for errors. IE is more sensitive to those than FF.
Another anomoly is that the image uri is always to the image processor so it would seem that either the link is not being done correctly or the image is not being cached. Maybe IE is somehow not dealing properly with the imageprocessor uri. (Noramlly this works just fine, for instance for me with my sites and IE.)