Internet Explorer doesn't support the getSelection() method so you have to do it this way instead :-

javascript:q=document.selection.createRange().text;window.location.href=q;

Also, in Internet Explorer you might find it more convenient to have a button on the Links toolbar rather than using a Favorite:-

  1. drag any link from the browser window to the Links toolbar
  2. right click on the button and select Rename to call it something like goto selected
  3. right click on the button again and select Properties, then paste the javascript:... text into the URL field