I do set the license in the page load event. I step through it and it doesn't throw an error or say it's an invalid license. Yes, the image path sets correctly, see example below.
In the <HEAD> section of the html...
<script type="text/javascript" language="javascript" src="/Portals/Default.aspx/lang_en.js"></script><link href="/agw_client/menu.css" rel="stylesheet" type="text/css" />
In the <BODY> section of the html... (Notice that a lot of these paths point to Default.aspx - that doesn't make sense - And once you hit F5 refresh it works fine and the paths point to the proper path)
<div id="dnn_ctr1787_ViewGenContactsEditor_grdContacts" scbcolor="#EEEEFF" acttab="0" freeze="1" editmode="1" showload="1" acbcolor="#DDDDFF" ahcolor="#CCCCFF" stdb="1" clientro="1" agw_client_path="/Portals/Default.aspx/" ahbcolor="#0055BB" sccolor="Black" clientfrz="1" bindingsrc="1" forcevalid="1" image_file_path="/agw_client/" accolor="Black" clientresize="1" style="display:inline-block;height:500px;width:800px;behavior:url('/Portals/Default.aspx/commonbehav.htc');">
<xml id="dnn_ctr1787_ViewGenContactsEditor_grdContacts_XML1"></xml><xml id="dnn_ctr1787_ViewGenContactsEditor_grdContacts_XML2"></xml><input type=hidden id="dnn_ctr1787_ViewGenContactsEditor_grdContacts_XMLDATA" name="dnn$ctr1787$ViewGenContactsEditor$grdContacts_XMLDATA"><input type=hidden id="dnn_ctr1787_ViewGenContactsEditor_grdContacts_VMARK" name="dnn$ctr1787$ViewGenContactsEditor$grdContacts_VMARK"><a id="dnn_ctr1787_ViewGenContactsEditor_grdContacts_EVENTBTN" onclick="__doPostBack('dnn$ctr1787$ViewGenContactsEditor$grdContacts',this.agwEventData);event.cancelBubble=true;" style="display:none;"></a><div id="dnn_ctr1787_ViewGenContactsEditor_grdContacts_CMENU" style="behavior:url('/Portals/Default.aspx/menu.htc');">
</div><div id="dnn_ctr1787_ViewGenContactsEditor_grdContacts_LMENU" style="behavior:url('/Portals/Default.aspx/menu.htc');">
</div><table id="dnn_ctr1787_ViewGenContactsEditor_grdContacts_FRAMETAB" class="dnn_ctr1787_ViewGenContactsEditor_grdContacts_0" cellspacing="0" cellpadding="0" border="0" style="height:100%;width:100%;">
<colgroup>
<col style="width: 30pt;" /><col />
</colgroup><tr style="height:15pt;">
<td align="left" valign="top"><div id="dnn_ctr1787_ViewGenContactsEditor_grdContacts_leftTopPanel" style="height:100%;width:100%;overflow:hidden;">
<table class="dnn_ctr1787_ViewGenContactsEditor_grdContacts_4" cellspacing="0" cellpadding="0" border="0" style="height:100%;width:100%;filter:alpha(Opacity=50,FinishOpacity=100,Style=1,StartX=0,FinishX=0,StartY=0,FinishY=75);">
<tr>
<td class="dnn_ctr1787_ViewGenContactsEditor_grdContacts_5" align="center" valign="middle"> </td>
</tr>
</table>