Solution (kludge) found.
1. Start "New Site Wizard" to create a new profile.
2. Set hostname to "Localhost"
3. Leave Username and Password blank (they aren't used).
4. Select "Open a local and remote window" (radio button).
5. Choose your target directory (mapped drives are fine).
6. Define a unique profile name (probably indicating the chosen directory :-)
7. Click ""Finish".
8. Copy the original FTP Voyager icon and rename the copy to something indicating what it will connect to.(something close to the profile name you just created).
9. Right-click the new desktop icon, click properties, and edit the "Target" content to be
"C:\Program Files\RhinoSoft\FTP Voyager\FTP Voyager.exe" profile="your new profile name"
Note: This is the kludge part.
FTP-V will open your local browser as you had wanted. However, it will also will try to connect to localhost.
Simply close the window for the remote connection (the one showing the word "connecting".)
You will be left with your local browser pointing to the directory you specified in step 5 above.