Alt text is not supposed to show, like you displayed. You were thinking it was broken in FireFox because it didn't display, where as in reality it was broken in Internet Exploder because it WAS displaying, LOL. That's what makes messing with IE so difficult sometimes
Tal showed the quote about how the Alt tag is supposed to work, and if you read further on the same link he provided it explains the Title tag:
Quote:
Values of the title attribute may be rendered by user agents in a variety of ways. For instance, visual browsers frequently display the title as a "tool tip" (a short message that appears when the pointing device pauses over an object). Audio user agents may speak the title information in a similar context. For example, setting the attribute on a link allows user agents (visual and non-visual) to tell users about the nature of the linked resource
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Don't you love IE for making things confusing

It's not really handy to have things work regardless, it's better to have it work based off of standards so that it's a standard for all, that is what "standards" mean after all.