What version are you running?
Are you getting anything to show?
Are you getting the filename accross the bottom?
How big is the pic (shouldn't matter though)?
Is the pic in the project folder (I think IV will loose it upon re-open, but it should show first placement).
I believe that you need to have mspaint set as your default image viewer (in windows)
-Start new sketch
-insert image
-you can dimension, rotate, and constrain image as required
-finish sketch
-create decal from inserted image,