Also, even if it says eq2.ini instead of eq2.ini.txt, make sure it's got a yellow cog on the icon, like desktop.ini shown in this picture.
If the icon looks like a regular text icon, go to the Tools menu and select Folder Options. Click on the View tab, and UNcheck "Hide file extensions for known file types". This will show the .txt if it's named incorrectly, then you can rename it and remove the .txt
If that doesn't work... are you running a localized version? UK servers, French/German language, etc?