Well as with most things, what at first appeared to be perfect, was not at all. 
 
My JS needed some serious re-working in order to get IE to play nice, and I needed to change the functions to wait until the scrolling had stopped. Had to practically rewrite the code from scratch.
 
Here is the finished javascript
:
 
    
var scrollTimer = -1;
    function bodyScroll() {
        if (scrollTimer != -1)
            clearTimeout(scrollTimer);
        scrollTimer = window.setTimeout("scrollFinished()", 500);
    }
    function scrollFinished() {
 
    var currentPos = $(window).scrollTop() + 10;    
 
    if (currentPos>200){
      var nowTop = (currentPos-120) + "px";
    } else {
      var nowTop = 0 + "px";
    }
 
    $("#right-bar").animate(
    { top: nowTop }, {
    duration: 500,
    easing: 'swing'
    });
 
return false;
}
window.onscroll = bodyScroll;
 
Now it appears to be working in all browsers, and it is much less resource intensive. I still may be getting some lag issues if you sit on the page for a while, but I can't completely confirm that yet. Time for some sleep. 
 
If you feel like testing it for me, the link again is: 
http://trainingpen.com/home.php?cat=105