@Kenny
Its not as if its a new idea; truecolour icons have been around on other platforms long before Morphos.
As for the speed issue its actually OK on 68040 (unless I want to scroll a window full). You may also notice its released for MOS too, since according to the docs, MOS support for png icons stops at Ambient, whereas this is for all users of the icon.library...
Since this is only the first release, I expect it to improve with age...
-edit-
@Kent, I already got a very positive response from Elena regarding ideas for alternate image support and an 'alternative' method of rendering the imagry on screen ;-)
As for source code release, I hope she will consider it too...