Hyperlink opens old version of file (new save to file not working)?

Hi all, I have some hyperlinks to .png images in my worksheet and they function fine, except I made a revision to one in paint and saved it, but the hyperlink in excel still opens to the version before the save was made. When I open the file through explorer, it opens correctly to the updated file. I've tried restarting excel. The files open in excel with my default web browser (firefox). Related (less important) side question...I'd rather they open with paint so I could make revisions if needed without having to open them through explorer. Any way to make that happen?

edit to include version of excel: 2007 and to remove irrelevant info

Thanks!