I too am one of those people unable to find IEEXEC.EXE and everything else Trend Micro lists to remove from the registry, etc., etc., but enough about that.
Maybe this was a coincidence (I'm not sure if wabbyyy was referring to the same thing) but prior to the first scan I ran, I had rebooted after installing the monthly Windows updates and my computer was painfully slow - it took about 30 minutes to get to my desktop. In task manager, my cpu load was at 98-100% before I had even run any programs. 24 hours later or so, it started running normally just like that. Anyone else have this problem? I found one other incident like this on Google but I'm not sure if it's related to BKDR_IRCFLOOD.X or just a mere coincidence.