Windows 7: Hyperlinks disabled by Windows 7

I have two programs where I notice hyperlinks are disabled. Excel and Simply Accounting 2011. In Excel I get the message "This operation has been canceled due to restrictions in effect on this computer." In Simply, I get the message "Internet access is required for this command." In everything else Internet access is working.

I have tried adjusting the security settings in Internet Explorer 8.

I suspect there is a rogue group policy at work.

Any suggestions as to how I can get hyperlinks working in these two programs?

If you suspect that it is an GP edit causing this then do the following to check the theory out:

Start > Run > type mmc, click OK.

(Make sure that you launch the MMC with admin privileges)

Add the the following snap-in title Resultant of Policy and the right click it and choose 'generate RSOP data'. You will now see a exact list of what GP sections are manually configured along with their current setting.

(I assume that you checked out this Microsoft fixit articles since you discussed correcting IE settings.)

Something random to do, log into a different account (from the one where the error is received) and try to see if you receive the same security warning.

I think there must be a security setting which is switched on that prevents MS Office programs from using links to access the Internet. Can you point me to where that is?