Vista Shortcut Overlay Remover
Windows Vista Shortcut Overlay Remover, aka FxVisor, lets you to either remove or enable the explorer shortcut overlay arrow which is added to all shortcuts. Currently there is no native way to remove the shortcut overlay arrow or to even customize it in Windows Vista, so we have written the Vista Shortcut Overlay Remover utility to enable you to do just that.
From SoftSea Editor: you can use this software to disable Shortcut Icon Arrow Overlay in Windows 7 or Vista, The shortcut icons in Windows Vista or Windows 7 have Huge arrows on them. If you are worried about the look of your desktop, you may not want to see the ugly arrows, this software can do this.
The license of this software is Freeware, you can free download and free use this desktop utility software.