I've hit a few problems with IP v4.10.177 running on Vista Ultimate 32.
First, I'm seeing the same dialog box corruption that chiwou82 did. It affects the Change Icon dialog and its file-browsing sub-dialog. You can see what the dialogs are supposed to look like in the manual:
https://www.stardock.com/products/iconpackager/help/IC_1overview.htm#IC_2_2Change_Icon_Dialog
Next, icon installation behaves poorly when I run IP from a standard account. IP requires elevation to an administrator account, and as a side-effect, most of the icons get installed in the administrator account instead of the original standard account. In practice, this means that file-type icons change OK, but special folders/objects (Computer, Recycle Bin, User, Documents, Pictures, etc) do not. It looks like the former are system-wide while the latter are per-user and therefore installed in the wrong place. Live folders also behave strangely: The new icons only seem to appear if I create a new folder or explicitly reset old folders to the new "default." Workaround: Everything seems OK if I temporarily change the user account to administrator level, then restore it to standard after running IP.
Note that this problem may predate IP v4.1, since it sounds like the same problem described here:
https://forums.stardock.com/300418
Next, the drive icon for my Bluray drive is showing the standard Aero icon instead of the IP icons. However, when I right-click on the drive to change the icon in IP, it shows a reasonable icon (DVD) associated with the drive. Therefore, I don't think it's a matter of BD incompatibility, it just looks like Windows is ignoring the icon for some reason. (Related to this, it'd be nice if there were more options for different drive types.)
Finally, Impulse fails to verify the installation if I change the "Repair Shell Icons" options at all. Restoring the options to their original state results in successful verification. (By the way, I've seen similar issues with other products in the OD suite. For example, RightClick verifies OK right after installation, but simply running the program once will cause it to fail future verifies. And DeskScapes won't verify at all for me.)