Seems to work--Very Nice!
Thanks for Shareing
Note that it seems to work better if you use an ICO that has only the appropriate sizes...
I applied a custom icon to xplorer2_ult.exe. First I tried an ICO that had all standard sizes (16 .... 256) and PEIC crashed. Did it again with a version of the ICO that had only 16, 32, 48, and it worked fine. (using Win 7)