Phil,
when you use the Search (or if you use AE and you are integrating into Outlook) then EV creates a new folder, sets the Home Page to the URL of the Search Pane (or AE), deletes it and then opens it. So the user sees the Search page (or AE) but in fact it's displaying the Home Page of the new, empty, deleted folder.
This will show up under Deleted Items and in the dumpster.
Bit of a hack really....
David