Symptoms
In Microsoft Visual Studio 2005 or in Microsoft Visual Studio .NET, when you set the ImageList property of the CoolBar ActiveX control to the ImageList ActiveX control, and then you run the application, you receive the following exception:

An unhandled exception of type ‘System.Runtime.InteropServices.COMException’ occurred in axinterop.comctl3.dll
Additional information: Invalid property value. Note You cannot set the ImageList property of the CoolBar ActiveX control in the Properties window.
Resolution
Microsoft Visual Basic 2005, Microsoft Visual Basic .NET, and Microsoft Visual C# .NET interpret the ImageList property of the CoolBar ActiveX control as a read-only property. Therefore, Visual Basic 2005, Visual Basic .NET, and Visual C# .NET throw an exception when you set the ImageList property of the CoolBar ActiveX control to the ImageList ActiveX control.