The subject behavior occurs because of the enhanced security that is enabled by default in Windows XP Service Pack 2.
NOTE: If you open this same local file in a Microsoft Office program, or if you use Internet Explorer to open the file from a network location, the AutoShape appears correctly.
To resolve this issue:
1. Open a CMD.EXE Window.
FLML \[any 1 character\]
and press Enter, where any 1 character is an option that will cause your computer to perform a required restart.