it's likely to be one of two things
1) code access security permissions. The component may require high or full trust to access various graphics capabilities (lots of these components use dllimport which requires Full trust). Try setting <trust level="Full " in your web.config (note: make sure that machine.config is not setting it to a lower level). You'll have to recycle the web application after making the change i.e. run IISRESET from dos, or else unload the application pool in windows 2003
2) an additional dependancy file is missing. Download
http://www.sysinternals.com/Utilities/Filemon.html, and trace what file(s) get accessed, and see if there are errors accessing a file due to it being missing, or lacking permissions.
Cathal