IE8 problem with add channels div

We're using Greg Skinner's "add a channel" code at the top of our page in the welcome bar. Since going to IE8 I've noticed that when I hover over the image to bring up the channel menu, if the list is longer than the scrollbar and I move the mouse, the page/content automatically jumps to the top of the div. This isn't a problem as long as the menu list is short, but once the user has to scroll down, choosing a channel is almost impossible.
The mouse-wheel can scroll the content down, but as soon as the mouse is moved, it jumps up. This problem only occurs in IE8. All other browsers are working as it should. I've double checked Greg's code and its the same as ours.
I'm sure there's a workaround but so far everything I've tried has came up with no changes.
Any suggestions?

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IE8 problem with add channels div

The only way around this that I found was to convert it over to an onclick toggle event, then it worked. No matter what I did, as long as it was a mouseover, the page would always jump to the top of the div when you moved it.

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