MSHTML is an IE component (I think!), if you can get to it, try running IE repair (Go to Add/Remove Programs in Control Panel, choose the Internet Explorer entry and choose Repair Internet Explorer in the box), alternatively, try re-installing IE from a CD if you have one.
Also, I believe you can do a system restore from DOS, hold CTRL as the system boots up, the windows startup menu should appear and if I remember correctly one of the options is to restore to an earlier point.
If you do manage to resolve it, I suggest upgrading to IE5.5 SP2 as errors in the version of IE that comes with Windows ME are common. Or get Opera, an even better browser.
HTH.
Carlos.