I can't really answer your question, but there is something you may want to check. When you click on that "browser" icon, "something" happens. This "something" is dependent on what engine is chosen. I think that most of those "something" (what happens when you click on the screen left-most menus) is defined somewhere under /usr/share, maybe in the file /usr/share/applications/hildon-navigator/hildon-task-navigator-bookmarks.desktop

You may want to check if permissions are set correctly around there. You'll need to be root to do that.