I had a similar problem almost a year ago, and finally got the response below from Stardock Support. Possibly some of the more technically oriented can determine what problem the solution is actually correcting.
In any event, following the instructions will resolve the problem.
The only reason I remember this is that I had the same problem a day or so after I also updated to the latest version of IP, and went back to dig it out of my saved e-mail. (The note mentions XP and Vista, but I am currently running W7 64-bit, and the suggested solution still works.)
"Please access your System Registry (XP - Start-> Run, Vista - WinKey +R) and in the run box type regedit. Then go to the following Key;
HKEY_CLASSES_ROOT\exefile\shellex\IconHandler
On the right side of the screen, if it has a value of {611AD258-4138-4348-A534-9856FA6BA398} you need to rename that registry key from 'IconHandler' to something else, IconHandlerX works.
Then reboot your PC and the Icons should come back."
Here's hoping that Stardock notices that the error is occurring and patches things up.
