I have the same problem style_emoticons/<#EMO_DIR#>/sad.gif
It worked initially, but after numerous attempts to start from scratch (completely new database and reapplying tracking code) i still only get live visitors.
My first intallation worked perfact for quite a long time. Then i decided to do a fresh install with version 0.5.4 … that was when all went wrong style_emoticons/<#EMO_DIR#>/sad.gif