It should be - this is not a reformat of your computer, but it reverts everything done to IE since you first got it. IE is like it was "out of the box" but Windows and all your programs are still untouched.
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Oh, I might have misread this note, but it does not make much since, I first read it as it would affect the desktop part of explorer.
Note
- When you change settings for Internet Explorer opened from Start, those changes also affect Internet Explorer in the desktop.
Yeah, that is really poorly worded. Maybe it has something to do with how Windows Explorer (when you browse files on your computer - holding down the windows key on your keyboard and pressing E will bring up the window I'm talking about) is very tightly integrated with IE. But that would only (possibly) affect the viewing of the files, not the files themselves.