Hello.
It's a registry tool so it might very well modify your internet registry settings, but it would be odd.
If using the backup tools doesn't work, I think you can reset your settings to the system defaults with a registry file (.REG) from http://www.speedguide.net
I would give you a direct link, but it's been a while since I looked for it.
Hope it helps.
Edit: it might be at http://www.speedguide.net/downloads.php
Also, I *think* there is an official Windows' .reg file to reset these settings as well...