CATraxx can now display a default image when the image field is empty. You set this up in the Options window:

As you can see, you can set up an image placeholder for both the full size image and the thumbnail. CATraxx uses this image by default:

But you can use any image you like. If you do not want to display the image placeholder, simply clear these two fields in the Options window.

Here are two screen shots of the browse list and the explorer preview pane both showing the image placeholder: