Hello Richard Baugh,
Actually, it seems that this behavior is caused by the dynamic link parser. We have just found an inconsistency when using relative paths. The bug has already been fixed and is waiting for the upcoming release.
Our recommendation is not to use the relative paths as they are quite tricky. They are most likely to break when you move a control from one page to another. If you are using absolute paths (starting with "/") they would always resolve the URL from the application root. Thus it would always search images and other resources in one place.
Anyway, we are sorry for the inconvenience caused because of this bug and thanks for pointing it out. Your Telerik account has been updated.
the Telerik team