This has been bothering me for a couple of days, but finally found the solution today. If you are experiencing the IE Peekabo bug and none of the other solutions suit your site’s CSS setup, then why not try this? Set a line-height on the offending div tag, like this:

div#yourdiv { line-height: 1.2; }

(1.2 ish being the default line height in most browsers)

This fix found on Matthew Somerville’s site. Thanks Matthew!