Wow... that took me quite a while to figure out what was wrong. It wasn't easy. 
pixelLeft and pixelTop are interpreted differently between IE and FF.
Essentially, I changed a lot of the code to make it cleaner and more compact. Document.Layers will never return true in IE or FF, its a Netscape 4.x specific item.
I then removed the table items and replaced them with a single div, eliminating the need for the blank.gif.
Then I used a combination of clip and changing the top of the margin of the internal div in comparison to the external div.
Then I figured you could just set the height of the external div to the height of one image, set overflow to hidden and remove the use of clip. Then I figured out I wouldn't really need to do anything with the external div at all, but just move the internal div.
I then added a doctype, since every HTML page should have a doctype. I just set it to use the HTML 4.0 doctype, since its simple.
By removing position: absolute, top: 100px, bottom: 100px, you can position it inside anything you want. 
I've tested it on IE 6, IE 7 and FF 2.0 and it works like a charm on them.
To the code!
Code:
<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN"
"http://www.w3.org/TR/html4/loose.dtd">
<html><head><title>signature</title>
<script language="JavaScript">
<!-- Original: Dion (yobo42@hotmail.com) -->
<!-- Web Site: http://yoboseyo42.virtualave.net -->
<!-- Begin
boxheight = 20; // height of news box
scrollheight = 520; // total height of all data to be scrolled
function scrollnews(cliptop) {
cliptop = (cliptop + 1) % (scrollheight + boxheight);
tdel = document.getElementById("test2");
tdel.style.marginTop = 0 - cliptop+"px";
setTimeout("scrollnews(" + cliptop + ")", 50);
}
// End -->
</script>
</head>
<body onload="scrollnews(0);" bgcolor="blue">
<div id="news" style="border-width: 0px; position: absolute; visibility: visible; top: 100px; left: 100px; height: 20px; overflow: hidden;">
<div id="test2">
<!-- Your News Items are Here -->
<img src="2001.gif" height="19" width="350"><br>
<img src="delta.jpg" height="20" width="350"><br>
<img src="Bond.png" height="20" width="350"><br>
<img src="ComptiaA.gif" height="20" width="350"><br>
<img src="contact.jpg" height="20" width="350"><br>
<img src="debian.jpg" height="20" width="350"><br>
<img src="dell.png" height="19" width="350"><br>
<img src="firefox.jpg" height="20" width="350"><br>
<img src="alpha.jpg" height="20" width="350"><br>
<img src="got_root.png" height="19" width="350"><br>
<img src="hardware.gif" height="20" width="350"><br>
<img src="html.gif" height="20" width="350"><br>
<img src="lan.gif" height="19" width="350"><br>
<img src="linux.gif" height="21" width="352"><br>
<img src="LoonyToons.jpg" height="19" width="350"><br>
<img src="matrix.jpg" height="19" width="350"><br>
<img src="nasa.jpg" height="20" width="350"><br>
<img src="banner.jpg" height="20" width="350"><br>
<img src="network.gif" height="20" width="350"><br>
<img src="pentium4.png" height="19" width="350"><br>
<img src="php.gif" height="20" width="350"><br>
<img src="scorpio.jpg" height="20" width="350"><br>
<img src="ubuntu.png" height="19" width="350"><br>
<img src="wifi.jpg" height="19" width="350"><br>
<img src="Windows_XP.png" height="20" width="350"> <br>
<!-- End Of Your News Items -->
</div>
</div>
</body>
</html>
Thanks for the challenge! I spent half and hour figuring it out! 
If you want any clarification on anything I've changed, feel free to ask me.
Oh, and I hope I didn't go overboard.
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