You have to rebuild the list. If you want dynamic changes, you should go for a scrollView or even use some ready custom ListViews easily found in the forum.
I tried CustomListview but it really doesn't have a overwrite. It actually copies everything into a list and then recreate the ImageView.
Does any know if the "UltimateListView" has a overwrite capability.
'Update CustomListView Image
Dim pnl As Panel
pnl = CustomListView1.GetPanel(thisRow)
Dim imv As ImageView
imv = pnl.GetView(1) ' the index of the view within this panel that holds the image
imv.Bitmap = LoadBitmap("myImageLocation", "myImageName") 'change the bitmap
ps .. if it doesn't sorry .. its Xmas and it way way past bedtime .. all the best
Cheers mj