When you select an image file from your system (let's call this the "source file") Scrapbook MAX! does make a copy of it and sometimes performs some conversion on it (let's call this the "working file"). The working file is created in your scrapbook's project folder. That is why updating the source file has no effect on the working file.
The easiest way to update the image is to double-click the object in Scrapbook MAX! and re-browse for the source file. The other way to to it is to browse to the source file in Windows explorer and then hold down the Shift key on your computer and then drag and drop it onto the object that should use it as its working file.
The reason that we make a copy of the file is that if you apply an effect to it or something like that the working file gets permanently changed and we would not want to do that to your source files.
Indigo Rose Corporation