You can hover over the icon but if you click it, it does not work
I can't reproduce this using modern.ie on IE9. When I hover the options display and when I click an option (eg, 'make it flat') it is applied. Clicking on the gear does nothing, but I don't think it's supposed to.
Thanks @diosmosis for checking on IE9
Clicking is not supposed to do anything here @MichalTomczak so it works as expected
@mattab in ie9 you won't be able to click on the popup, as it will be closed, as soon as you will move your mouse to point the link. I confirmed it, and it's not working on ie9
Thats correct. Had a quick look at that right now. Guess that might be a CSS issue.