The text/plain fragment documented in RFC 5147 and described on Erik Wilde's blog struck my interest and, like the XML fragment, I wanted to see if I could implement this in IE. In this case there's no XSLT for me to edit so, like my plain/text word wrap bookmarklet I've implemented it as a bookmarklet. This is only a partial implementation as it doesn't implement the integrity checks.
Check out my text/plain fragment bookmarklet.