@ emeck - Glad you managed to solve it, and thanks for adding your findings/discoveries, which are probably of use to other users who want to install ImageFX v4.5 or any other installation/version of ImageFX.

I don't think that the SVG default icon creation by MorphOS had been implemented when I last installed ImageFX v4 & v4.5.

Maybe this SVG icon issue needs to be brought to the attention of the MorphOS Development Team?

As I found out recently that Piru only just solved a slightly different issue with Dual-state PNG icons with MorphOS

If you send them a bug report, which I personally feel this issue warrants, even though it's not part of MorphOS directly, it does affect an installation of software that is historically supported, so ... if you do, then please add an additional comment on here, so we all know it will get looked into at some point.