Do you know the person that sent you the picture?
An empty error messagebox sounds like a way to throw you off from thinking that it is a virus or trojan. It is commonly done with trojans such as sub7. Are you sure that it is actually a picture?
If you forward me the E-Mail, I can tell you whether the E-Mail is the problem, or if it is infact a problem with your computer. Right now, I am thinking that the E-Mail you received contains a virus/trojan/worm. If it's from somebody that you know personally, contact them via another method and double-check that they actually sent that E-Mail, as worms commonly spread themselves by sending themselves as attachments to peopl on the victim's address book.
If you would like me to look at it, my E-Mail address is pyroinacage@gmail.com.