They were up for 3 awards (winner in bold):

----
BEST POP PERFORMANCE BY A DUO OR GROUP WITH VOCAL:
Silver Springs - Fleetwood Mac
MMMBop - Hanson
Virtual Insanity - Jamiroquai
Don't Speak - No Doubt
Anybody Seen My Baby? - theRolling Stones

BEST POP ALBUM:
The Dance - Fleetwood Mac
This Fire - Paula Cole
Travelling Without Moving - Jamiroquai
Surfacing - Sarah McLachlan
Hourglass - James Taylor

BEST ROCK PERFORMANCE BY A DUO OR GROUP WITH VOCAL:
The Chain - Fleetwood Mac
Falling In Love (Is Hard On The Knees) - Aerosmith
Push - Matchbox 20
Crash Into Me - Dave Matthews Band
One Headlight - the Wallflowers
---

They should have won easily for Silver Springs. But Jamiroquai was a lot more visible that year with the Virtual Insanity video. And the Wallflowers' One Headlight should not have been in the "rock" category.