I have a site on A.com and an iframe on B.com which calls javascript from A.com. This works great in FF. In IE7 / 8 I am getting a
Message: Access is denied
IFrames can communicate as long as they are "of the same origin" - so same domain and same protocol. Communication is blocked if they are of different origin.
HTML5 introduces a new communication mechanism. It may be worth looking at http://www.w3.org/TR/webmessaging/
http://en.wikipedia.org/wiki/Cross-document_messaging
It is also worth reading up on the security implications
https://www.owasp.org/index.php/HTML5_Security_Cheat_Sheet#Web_Messaging