Bob,
Just for reference for anyone else who has this problem - it's covered in the release notes. Here's the section:
* The text menus don't display when K-Meleon starts.
Users with Windows95 and versions of Internet Explorer older than 5.0 need to download and install the Common Control Library from Microsoft:
http://www.microsoft.com/msdownload/ieplatform/ie/comctrlx86.asp
Andrew