Linked floating graphics don't show up in the Edit Links dialog box
Article contributed by Bill Coan
If the graphics are floating over text, you don't have a problem. Word is indeed linking your floating graphics. The links don't show up in the EditLinks dialog because they aren't editable. (Now that's a problem! If you need to edit the link for a floating graphic, you have to temporarily unfloat it, then edit the link and refloat it).