[KW802]

Depending upon if you're IE or FF you'll get different results. For example, in IE you won't see it until you add it to your favorites and even then you may not see an updated one until you remove it from your favorites, clear your IE cache, and then re-add it to your favorites. With FF, though, it should always show the current one.

Like mholtum said, IE really doesn't handle favico.ico files cleanly (even though it was a Microsoft addition!).