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image files corruption :P
Probably a CMYK file... :?
yay it's true!
IE sucks at .png support. If you want it to show up there you have to save it as something else
and 'save as for web' once more (if none of the above suggestions work)
Sometimes (unexplainable) doing this again just makes it work.
You can't use PNGs transparency features yet unfortunately as M$ refuses to build any useful support into Explorer and the support in other browsers is somewhat random.
The only browser that truly supports the format is Safari, closely followed by all of the Mozilla/Gecko browsers.
You could try loading it into Quicktime player with a transparent background.
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http://mijlee.com
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Or just save it as a jpg with a black background.