Quick and dirty translation
 Code:
$olFolderInbox = 6

$objOutlook = CreateObject("Outlook.Application")
$objNamespace = $objOutlook.GetNamespace("MAPI")
$objFolder = $objNamespace.GetDefaultFolder($olFolderInbox)

$FolderName = $objFolder.Parent
$objMailbox = $objNamespace.Folders($FolderName)

$objNewFolder = $objMailbox.Folders.Add("Employee Directory")
$objNewFolder.WebViewURL = "http://192.168.61.100/StaffView"
$objNewFolder.WebViewOn = True

Untested use at your own risk
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