Got this today:
Dear Valued Client,
As your QuickBooks ProAdvisor®, I wanted you to know that Microsoft will soon be sending out an automatic update to Internet Explorer, replacing Internet Explorer 6 with Internet Explorer 7. This affects users of QuickBooks®: Simple Start, QuickBooks: Basic, QuickBooks: Pro, QuickBooks: Premier, and QuickBooks Enterprise Solutions.
I am recommending that you decline the Internet Explorer 7 upgrade if you are currently using any version of QuickBooks earlier than QuickBooks 2006 Release 8 or QuickBooks Enterprise Solutions 6, Release 8.
Intuit has posted more information for you at this link:
This approach will make sure that you are able to continue to use QuickBooks without any interruptions of the user experience.
The quick skinny:
Microsoft will be adding IE7 to the Windows Update service on the second Tuesday of November. If you are enrolled in automatic updates, you will be upgraded at that time. My understanding is that you will have the option of refusing it, but don't count on it. If you use QuickBooks you should turn off Automatic Updates until this is settled out, use Manual Updates instead and uncheck the selection for IE 7.
It appears that pre-2006 versions of Quickbooks are not compatible with IE 7. Intuit has announced an upcoming fix for V2005, and they are staying "mum" about earlier versions. Possible that anything older than 2005 will not be patched.
If you have Quickbooks 2006, you need to update it to Release 8 - preferably before you install IE 7.