I have created some 22x22 icons, first in Fireworks, where they are exported as GIF's with an alpha channel (so non-colored elements won't be rendered). This GIF is then taken into Photoshop where I save it as an ICO file. Then, I use this ICO file in my objectbar elements, wherein they appear miscolored as in the example below:

The letter images are supposed to be white. The black-area is supposed to be clear so it sits inside the circle and looks more appropriate.
I presume there is some detail within the ICO file that has to be corrected, however, I cannot find any relevant documentation. Do any of you know what I'm doing wrong?
Thanks in advance,
Matt Warren