Yes. I just tried the following (each line except the last one is commented out...I didn't comment out each line as I was trying them though):
Protected Sub PreInit(ByVal sender As Object, ByVal e As System.EventArgs)
'Me.Attributes.Add("Background-image", "url(~/Images/WatchList_StopWatch.jpg)")
'Me.Attributes.Item("background-image") = "~/Images/WatchList_StopWatch.jpg"
'Me.Attributes("background-image") = "url(~/Images/WatchList_StopWatch.jpg) no-repeat;"
'Me.Attributes.Add("Background-image", "url(/Images/WatchList_StopWatch.jpg)")
'Me.Attributes.Item("background-image") = "/Images/WatchList_StopWatch.jpg"
Me.Attributes("background-image") = "url(/Images/WatchList_StopWatch.jpg) no-repeat;"
End Sub