Hi I've got Windows 7 Premium imstalled, and like most people on the planet, I hate the shortcut arrows. My normal fix is to edit the registry and make IsShortcutNot=1.
The trouble is that stops you adding items to the jump list etc. So I settled for making the arrow invisible. I don't know whether that caused the problem, but since then I have only got the main icons, the rest are completely invisible.
If I hover over them, I can see an outline, and double clicking opens/runs as per normal...