Just wanted to post a follow up. I had another colleague of mine take a look and we may have resolved the issue.
1) I had ensured the Application Pool was running under .Net4 framework....but apparently it was still disabled under the ISAPI restictions.
2) We had to hack the file under QVWebServer\index.html
We added "new Qva.Modal();" before Qva.Start()
So now the documents seem to load and I'm guessing things are ok. I haven't noticed any ill effects as yet.
Am hoping some experts can point out why we've had to do this to get things to work...the change to the index.html file is what concerns me the most.