Few days ago I got a problem on MS outlook that it could not view images. I solved the error on following way.
1. Go to run from start menu
2. Type regedit
3.Go to HKEY_USER\Software\Microsoft\Office\11.0\Outlook\Security\OutlookSecureTempFolder
4. In right pane Navigate to the value of this key %USERPROFILE%\LocalSettings\Temporary Internet Files\OLK3D where OLK3D Value change in different values