I get that same "no user image" when I use [userimage], for users who do indeed have images the "no user image" is displayed (/DesktopModules/Dynamic User Directory/NoUserImage.jpg). Users who really don't have an image have the browser's missing image displayed.
I don't know what should be in the configuration settings section titled:
"User Image / User Online Image / User Offline Image"
- Integration Type
- User Image Field
- Image Location
- Image Type