That reads like the link is being lost to the Picture.
SWAG - Under Tools. Options, Files, there is a place for Project Files Search Path.
Does adding the path to the Image Folder here make an difference?
Tried copying the image into the same folder as the drawing... no change
Tried adding the location of the images to the Project File settings... no change
I opened the drawing with AutoCAD and its showing the same behaviour as TrueView. When I look at the properties of the image it is listed as an "Autodesk Inventor Object"
AutoCAd (and DTV) have no way of displaying "Autodesk Inventor Object" entities, AFAIK there is no fix. You'll need to replace it with something that is supported.
It might be worth it for you to post in the Inventor forum and ask your peers if there is a tip or trick to getting the export to work as you wish with the logo file.