If the shortcuts or exe files shows wrong picture and u cant change it u need to rebuild your icon cache.
Easiest way to do this in Windows 7 is to run this batch file.
I tested it on Windows 7 Home and it worked like a charm.
Follow the instructions when starting it.
Hope it helped, it did for me.
As always use at your own risk.
Don't remember were I found it but thanks to u that made this fantastic batch file and I hope its okay that I got it here.