Microsoft has confirmed that this is a problem in Internet Explorer 6.
KB article 816625

Disk Contents Are Not Refreshed in Windows Explorer When You Press F5

When you change disks in your disk drive and then press F5, the contents of the new disk are not refreshed (updated) in Windows Explorer.
CAUSE
This problem occurs if all the following conditions are true:
You use a computer that has Microsoft Windows 2000 installed.

-and-
You install Internet Explorer 6.0.

-and-
You try to view the contents of different floppy disks in Windows Explorer.
RESOLUTION
A supported fix is now available from Microsoft, but it is only intended to correct the problem that is described in this article. Apply it only to computers that are experiencing this specific problem. This fix may receive additional testing. Therefore, if you are not severely affected by this problem, Microsoft recommends that you wait for the next Internet Explorer 6 service pack that contains this fix.

To resolve this problem immediately, contact Microsoft Product Support Services to obtain the fix. For a complete list of Microsoft Product Support Services phone numbers and information about support costs, visit the following Microsoft Web site:
http://support.microsoft.com/default.asp...S;CNTACTMS

NOTE: In special cases, charges that are ordinarily incurred for support calls may be canceled if a Microsoft Support Professional determines that a specific update will resolve your problem. The typical support costs will apply to additional support questions and issues that do not qualify for the specific update in question.

The English version of this fix has the file attributes (or later) that are listed in the following table. The dates and times for these files are listed in coordinated universal time (UTC). When you view the file information, it is converted to local time. To find the difference between UTC and local time, use the Time Zone tab in the Date and Time tool in Control Panel. Date Time Version Size File name
----------------------------------------------------------
23-Jun-2003 14:27 6.0.2800.1217 1,338,880 Shdocvw.dll


STATUS
Microsoft has confirmed that this is a problem in Internet Explorer 6.

Nov. cumulative patch for IE updates the file to 6.0.2800.1276 Shdocvw.dll