Hey dream_hunt... this might sound stupid (infact it might even be stupid...) because I don't have ME or 98 along with me right now, but the 'Folder Options...' window appears under the 'Tools' section on the menubar and not the view section. Also I do believe that you do need admin rights to access this... and if you do then you can easily do Tools > Folder Options... > View Tab > Unhide stuff...
Sorry if this is different in ME... because I have no way of finding out.
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