the lightning bolt icons you see in Fire Fox when logged into the admin section are the live edit links.
when logged into the admin section, you can click on the lightning bolt icons to edit the content for that section.
The issue with the news section pushing over, and the button links not having rounded corners are standard cross browser issues with IE7.
IE7 does not support rounded corners like Fire Fox does, and uses a different box modal for positioning lists.
It is simply not possible for the IE7 layout to match the Fire Fox layout 100% due to differences in the way each browser interprates the CSS Standard.