Menu works in FF, not in IE 6/7

[jamesb]

I'm starting a re-make of my site, and decided to use Coolmenus4. All works well when I test in Firefox, however in IE, the menu displays but no dropdowns appear when mouse over/click.
Also, the cursor goes to a "text input bar" when hovered over the menu, not a hand or pointer.

Not sure where it's going wrong though, can anyone advise?
I've tried IE7 on a couple of machines, and IE6 on another and it doesn't work on any of them...