Give this a shot:
First, download the current version of minecraft_server.jar, NOT the .exe file.
Create a .txt file in the same folder where your minecraft_server file is called "Server". Paste this code in the text document:
java -Xms1024M -Xmx2048M -jar minecraft_server.jar
and SAVE AS a file type (not .txt file) called Server.bat.
Double click Server.bat and it will open up the minecraft_server.jar file in a black MS_DOS window, followed by the familiar white box that is the default client for Minecraft_server.exe.
Once the world has been created, THEN you can go ahead and put the mods into minecraft_server.jar. If you don't create the world first, sometimes it can bug out. At least, this was happening to me too, after many aggravated hours of trying... Use winRAR to open the .jar file and DO NOT delete the META folder. Click the links to modloadermp and minecraftforge that are included in the how-to-install page of the wiki. RAR open the files and drag them, in order - modloadermp first then the forge file - into the minecraft_server.jar RAR file.
Sometimes the problem is with compatability between modloadermp and minecraftforge. You need to make sure you have the proper versions of both of them, in order to get compatability.
Now, create a folder in the SERVER folder called "mods" and drop the Industrialcraft.jar file into the mods folder.
Give that a shot. That's what finally worked for me. The versions I'm using for my server are: Industrialcraft v.1.64, modloadermp 1.1 v2.1 Server, and minecraftforge-server-1.3.1.
EDIT: I also noticed that on the ModloaderMP site, the link to the Mediafire version is v2, and the link to the adfly version is 2.1... Not sure how this happened...
http://www.mediafire.com/?wgl7pb7hz85m9d6 - ModloaderMP 1.1 v2.1
http://sourceforge.net/projects/minecraftforge/files/1.3.1/ - MinecraftForge 1.3.1
I couldn't get the 1.3.2.0 version to work for MCF...
Good luck!
PS: First post, hope this helps!