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- The path to the Icon is valid (Ex. “C:\MyIcon.ico”)
- The path to the Target was valid (Ex. “N:\My Folder\MyApp.exe”)
- I did not touch the shortcut file at all
- I renamed the folder on the file system (Ex. “N:\My Folder2\MyApp.exe”)
- Icon disappears (see below)

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The same situation does not cause icon to disappear on Windows 7. This is a problem because the target in on a network drive, and when user is not connected to network, or VPN, the icon disappears, even if the icon file is stored and referenced locally.
Is this just a problem with Windows XP? Or is there anything that I can do to avoid the icon disappearing when disconnected from network?
I’ve done extensive testing, and I believe that it’s by design in Windows XP to make shortcut icons disappear when the target of the shortcut is invalid.
When the target becomes invalid again, the icon reappears.