Only tested on Windows 7HP SP1 - Consider setting system restore points before and after (even this short process) just to be safe
Removing those pesky shortcut icon arrows once and for all:
Modify Registry with the popular Shell Icons settings that most folks find on the net to address this problem [HKEY_LOCAL_MACHINE\SOFTWARE\Microsoft\Windows\CurrentVersion\Explorer\Shell Icons] (The -50 string value modification). If you're unfamiliar, Google it, and you'll learn that the Registry modification procedure is actually pretty easy to do. (There are also ready-made .reg files available which makes this step easier and repeatable - look for them in your search results)
Delete C:\Users\YourUserName\AppData\Local\Iconcache.db file (the file is hidden, so set your file viewer to show hidden files so you can see and delete it)
Reboot and the icons should return good with no shortcut arrows showing
(If you stop at this point, like I did and most folks do, the shortcut icons will only look good until the next reboot or logoff event, after which they will return as black or have other issues.)
Create an Iconcache.db dummy file with any text editor (just type in blah blah or whatever in the text editor), save it as Iconcache.db and then set the attributes to Read Only, Hidden, and also remove ALL SYSTEM privileges to the file (easy to do - just right click the file, choose properties, and make the changes in the General and Security tabs)
Put your new dummy file in the C:\Users\YourUserName\AppData\Local\ directory (where you deleted the file in step 2)
Done! You can now reboot and/or log off indefinitely and the shortcut icons will always return good with no further action required - ever!!!
Summary:
- Make sure Registry has Shell Icons mod
- Delete existing ~local\Iconcache.db file (file is hidden)
- Reboot
- Create dummy Iconcache.db file and set attributes
- Put dummy file in ~local directory