I am having this same issue. On the site I am developing http://www.tentaculardesign.com/ladyarielle
If you go to Fabulous Jewelry and try and use the drop down, you will see there is no mouse over color showing you what you are selecting.
if you go to any of the pages in the submenu and use the drop down, the mouseover works perfectly. Any ideas? I know its gotta be something simple I’m missing.
Thank you!! by adding the alt text as that site suggested, I was able to figure out that the suffixes of some image names were wrong. FF etc was ignoring them , but IE was making them red boxes.