The [ code ] tags should not process in any way anything between them.
[ img ] is being processed though.
Example:
^ that is:Code:
[ code ][ img ]http://setiusa.free-dc.org/vbforum/images/seti.usa/logo.gif.png[ img ][ /code] (without spaces obviously)
As you can see, the IMG tag is being processed. I dunno if this is an option or a bug, but please fix it.