PNG images are not displayed on Web sites in Microsoft browsers IE7 & IE8?

Symptom
Heres the problem, when you open a web page, only the .PNG images are not displayed. Instead, what you see is a red X, or a placeholder in place of the images (see right). What’s even more annoying, is that all other image file types (jpeg, jpg, gif) display OK in Internet Explorer.
Resolution
This problem may be seen after installing a third-party application, which may have altered the file class and MIME settings for the PNG file type.
To resolve the problem, use these steps:
- Download PNG_Fix.zip and save it to the Desktop.
- Unzip and extract the two files (pngasso_xp.reg and pngasso_vista.reg) to the Desktop.
- If you’re using Windows XP, right-click pngasso_xp.reg and choose Merge.
If you’re using Windows Vista, right-click pngasso_vista.reg and choose Merge.
In either case, click Yes to confirm the merge operation.
Additionally, in Windows Vista, click Continue when you see the User Account Control elevation dialog.
Note: The fix files (.reg) above should fix the file association and MIME settings for .PNG file types. File paths in the .REG files are hardcoded for C:\. If you have installed Windows in a different location than C:\, you’ll need to edit the REG file(s) using Notepad and update the drive-letter and/or the Path accordingly.