I do believe a solution is simple as changing a registry key but I can't find any useful info on google.
I found one possible solution, so I tried to repair the icons by rebuilding them via TweakUI but it didn't work.
Here's what fixed it for me (in case anyone finds this thread via search or something);
Windows Registry Editor Version 5.00[HKEY_LOCAL_MACHINE\SOFTWARE\Classes\exefile\DefaultIcon]@="%1"
Edited by Artistw, 01 August 2008 - 04:34 AM.