Just playing around with the DOM in IE and it appears to be the following div having a position of absolute. Interestingly this div does not appear to be in the slides that show correctly.
<div id="sb-drag-proxy" style="width: 555px; height: 565px; position: absolute; cursor: move; background-color: rgb(255, 255, 255);"></div>
If i un-tick position: absolute in the CSS properties window then the image underneath comes back again.
Maybe it might be possible to hook into the onChange
event and grab that div and change its properties or hide it.
$('#sb-drag-proxy').hide();
Maybe
<script type="text/javascript">
Shadowbox.init({
onChange: function(){
$('#sb-drag-proxy').hide();
}
});
</script>
Just a thought....
UPDATE
Just noticed that the div #sb-drag-proxy
has a white background-color property that when set to transparent fixes the issue, try adding the following css style
#sb-drag-proxy{background-color: transparent !important;}
UPDATE 2
If the above does not work then according to the shadow box forum http://www.shadowbox-js.com/forum.html (search for post titled "draggable and Internet Explorer 10") which then links to the following blog post, a fix is to add a meta tag to your page to force a different IE version. It is in spanish but you can get the gist.
http://bikertb-blog-howto.blogspot.co.uk/2013/10/hack-para-hacer-funcionar.html
<meta http-equiv="X-UA-Compatible" content="IE=9" />