I have started using 2007 Beta version of Excel. I love it!!!

My quesiton is quite simple and I am sure I am overlooking something
obvious. I have images in excel (logos) that I can see in the 3 views, but
not print preview or when I print. It is maddening!!!

Bring to Front / Back is greyed out and there is only one image so there is
nothing sitting on top of it.

I have tried all available file formats. JPEG, BMP, GIF, etc....

FYI - Logo prints out of Office 2003. Problem started when I opened in 2007.
Any ideas?

Thanks in advance.