http://support.microsoft.com/default.aspx?kbid=878461
Pictures do not appear as expected, or you receive an error message when you
open an HTML file on a Windows XP Service Pack 2-based computer
You receive a script error message when you view the HTML file in a
Windows-based program. You receive an ActiveX error message when you view the
HTML file in a Windows-based program. When you open the HTML file in Microsoft
Internet Explorer, pictures do not appear the way that you expect.