With respect, if 'parental safety options' are how you manage web browsers then I fear this may be a little out of your league. For system admin purposes controlling a browser via the 'parental safety options' is a bit like taking a knife to a gunfight. And the knife's blunt. And you forgot it and actually don't have anything.
I'd personally question the wisdom of using IE for this kind of thing - even though my personal desktop OS preferences are windows and mac OS X, this would be a great project for a locked down browser on Linux imho.
But in any case, as you mention using IE on windows - you'll probably want to create a guest-level account to run this browser under, create a customised install of IE using the Internet Explorer Administration Kit (aka IEAK) and use group (if in a domain) or local system (if in a workgroup) policies to further refine both computer and browser settings.
You'll then want to consider how to have it both run on login and re-start if it crashes or the user stops it somehow (possibly replacing the shell with IE).