Hi!
1. You said that both I.E have same security settings - (SMP Server is added as trusted site). Scripting settings and ActiveX controls?
2. You have installed AltirisNSControls.cab on both I.E?
3. You're using same Account from same "Symantec Administrators" role or different account from different roles in both cases?
Otherwise: You're able to see this Patch policy directly in SMP Console under this account and I.E, where problem occurs?
4. Maybe it sounds ridiculous, but how about to clear I.E cache, etc?
5. Does "Altiris Log Viewer" show something useful to determine why this problem occurs?
Thanks,
IP.