I also have this frequently but not always.  Pictures that are supposed to be embedded do not appear. There is a frame box with the small red x in the corner.  Right click offers a Show picture command that does nothing.

If I "forward" the email as it shows up for editing the pictures sometimes show up there so I can see them.  This does not always happen.

I am using IE 10 for Windows 7 with SP1 and this happened with Windows Live Mail and now with Outlook.  It happened also on my other computer with Windows Vista.

It does not seem to be consistent over different senders either. 

Any suggestions?