Okay, just tested it on NT4 w/SP1 with IE 2.0 (I will install IE 5.01 and see what I get, but so far it's working fine for me both locally and remotely)

Run locally on NT4 PDC Domain Controller w/SP1
 
IE Major Version: 4
IE Minor Version: 40
IE Build: 520
IE Sub Build:
IE Full Version: 4.40.520
IE Ver: 2.00
IE Name: IE 2.0
IE Customized Version:
IE Install Path: C:\Program Files\Plus!\Microsoft Internet
IE Language: English
IE Encryption Level         : 128
Remote Host Name            : ENIGMANT
Netscape Version            :
Firefox  Version            :
 
 
Run remotely against NT4 PDC Domain Controller w/SP1
 
IE Major Version: 4
IE Minor Version: 40
IE Build: 520
IE Sub Build:
IE Full Version: 4.40.520
IE Ver: 2.00
IE Name: IE 2.0
IE Customized Version:
IE Install Path: \\192.168.1.132\C$\Program Files\Plus!\Microsoft Internet
IE Language: English
IE Encryption Level         : 128
Remote Host Name            : 192.168.1.132
Netscape Version            :
Firefox  Version            :