Nah, XP, and I was talking about "Network Connections" and not "My Network Places".
Seems like I can get it to open if I go to settings and double-click the (expanding) "Network Connections" menu item, but if I double-click a network icon in my tray it... uh... it... works.
Must've been my old windows install that was b0rked then, because usually it would bring up some random folder.