It may be time to update the embedded irfan view version. Don't know how risky it really is but since 4.32 (and maybe others before 4.35) contain a Secunia reported issue my security software always complains about 4.32.
Just a remark. Today I installed XMM8 on my second computer and wanted to copy all the contents from my main comp to this new installation. As always I do not overrite everything by one click but check folder by folder what's changed and one thing was strange to me. I see that in full install of XMM8 version 8.0.3.9 there's a newer version of irfanview dated 11-12-2012 whether in my old version was a version from 2011. The difference between both installs was that on new one I installed the newest ver from full install package and on old one I was updating versions using LiveUpdate. Maybe it was not included in the "update only" install packages. It would be good to add it so that also people who just update the app have all components uptodate :)