The localStorage object in Internet Explorer 11 (Windows 7 build) contains string representations of certain functions instead of native calls as you would expe
Turns out this is a problem in the base version of IE11 (11.0.9600.16428) for Windows 7 SP1.
After installing a patch to update to 11.0.9600.16476 (update version 11.0.2 - KB2898785) the issue gets resolved. Links to other versions of Windows (32-bit etc.) can be found at the bottom of the patch download page.