I use a javascript under Mozilla Firebird, it might work on IE as well (or there's probably a similar one):
Code:
javascript: (function(){var newSS, styles='* { background: white ! important; color: black !important } :link, :link * { color: #0000EE !important } :visited, :visited * { color: #551A8B !important }';
if(document.createStyleSheet) { document.createStyleSheet(%22javascript:'%22+styles+%22'%22); } else { newSS=document.createElement('link');
newSS.rel='stylesheet'; newSS.href='data:text/css,'+escape(styles); document.documentElement.childNodes[0].appendChild(newSS); } })();
It isn't quite as convenient as what you are asking for, but with a simple button press (I keep it in the toolbar), it sets the page to white, the text to black, the links to blue/purple, removes background images, and probably some other stuff.