You are partially correct.
In order to view an older Intellex (4.0 and lower), the Browser Client Software needs to be installed on a dedicated computer that will act as webserver. Then your IE will be able to connect to an old Intellex.
Note: Some setup can't upgrade from 4.0 to 4.1 due to access control integration. So Browser Client is the solution.
You have to use a software called Network Client for Remote Viewing.
Every Intellex comes with 1 user license for this software.
In order to view this from a web page. The Intellex needs to be running version 4.1 or higher.