1. You got it wrong
2. You are looking in a web building tool that doesn't display embedded third party objects
4. You have images disabled on your machine
5. You have an adblocker that is blocking the code (adblockers do have false positives like that)
6. Your webhost doesn't permit embeded third party objects (unusual but does happen)
The possibility of the problem being at Bravenet's end is minimal.