I had to fiddle a bit with it (seems that one can't read from a file that is open for writing)
...

This one worked for me:

 Code:
break on

Dim $objFSO, $strIni, $objIni, $strTxt
$objFSO = CreateObject("Scripting.FileSystemObject")
$strIni = "C:\149.ini"
$objIni = $objFSO.OpenTextFile($strIni, 1)
$strTxt = $objIni.ReadAll
$objIni.Close
$strTxt = Join(Split($strTxt,"ICO=10.32.62.30"),"ICO=MyDomain")
$objIni = $objFSO.OpenTextFile($strIni, 2)
$objIni.Write($strTxt)
$objIni.Close
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