What are you talking about ranger(worldwar)?!
it works for me, could be also im the one whom made it.
Your PNG files MUST be 32x32 or 16x16 and 8x8
The command line is simple F1 is your friend.
Small tutorial for you:
png2ico outfile(this is your icon).ico infile1(png being converterted to icon).png
Also look at the download page again a quick and simple tutorial.
Thats a command line for it.
so i should look like
png2ico win32.ico convertthis.png
Then after you hit okay...
you press F9!
that compiles it. it works...
and only on 32x32 16x16 and 8x8 png images. remember that