Okay - Found you an article to browse. Check this out and let me know if it helps. :D

Microsoft Knowledge Base - Offline Viewing (http://support.microsoft.com/?kbid=196646)

As dumb as this suggestion may sound, try checking for 'Parental Control' software either on your computer or on your router (if you have one).

A while ago I was at a customer's home and they had...

Okay - Try this mini-walkthrough:

1) Right click in the toolbar area. That context menu you mentioned will pop out.

2) Make sure the option "Lock the Toolbars" is NOT checked. If it is, click...

I get the feeling this was answered elsewhere, but the link below should help:

http://www.dougknox.com/xp/tips/xp_ie_reinstall.htm

I'm afraid I don't understand your exact problem, so I am going to try and clarify:

Are you saying that you want to view your Internet Explorer favorites offline?

Can you maybe narrow this down to a list of sites for us? Might help a little more with finding out what the problem is. Also, can you post the version of Java installed so we can make sure there are...