Using XP SP2 totally up to date, including change to IE7. Recent recurring problem. Will mark a web site as a favorite. Use the shortcut several times and then try it again only to receive a message that the shortcut is not valid. If I reset the favorite, it will again work only to later fail. This has happened with different favorite shortcuts.
Any help appreciated.

Hi Klink.
In IE, right click the problem shortcuts (make sure they are not currently working) and select properties.
On the "Web Document" tab, see if the web address in the url box for the shortcut is correct. If it is, click the "Change Icon" button. The Windows\system32\url.dll should be listed in the "look for icons in this file".
If it points to a different location, let me know. Cancel your way out. There is still a registry bug in IE7 thats been there since the Betas.

HitSquad--
Thanks for reply. When I right-click on a problem shortcut, and then click on properties, I get only one tab labelled "General". Information on this tab all appears to be in order.

HitSquad--
Just retried several on the non-working favorites shortcuts. I do get the "Web Document" and the look for icon in this file is listed as you stated.
Assume Microsoft is aware of this registry bug??

Am I correct in assuming there is no correction at this time?

Thanks again.

Actually, yours seems to be ok in that regard.
Some installs are calling the shortcut from the wrong .dll
I have a regscript that fixes that.
Anyway, in IE, click Tools>Manage Add-ons>Enable or Disable Add-ons.
Temporarily disable all of them by left clicking on them one at a time, then select "Disable" below for each, click ok. Restart your browser when done. Add some favorites and see if they stick. If they do, you can re-enable the Add-on's one at a time and test again. IE7 favorites are exhibiting wierd behavior with certain browser add-ons and third party toolbars that are not yet compatable. Take these out of the picture to see if they're the cause of the problem.

maybe it was some sort of track cleaner that deleted your favourites