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The iexplore.exe must be a launcher or something
I had that in mind, but didn't tested it

. Looks like once you start IE from the environment/path it won't deliver the PID, while with a given (static) path it succeeds.
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If Target is a local file and no path was specified with it, A_WorkingDir will be searched first. If no matching file is found there, the system will search for and launch the file if it is integrated ("known"), e.g. by being contained in one of the PATH folders.
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The variable will be made blank if the PID could not be determined, which usually happens if a system verb, document, or shortcut is launched rather than a direct executable file