I’m having this issue as well. However, my problem does exist at the root blog. I’m using WP 2.9.2.
Example: http://www.imahotmom.com/fitness-family-2010-week-9/ (hiding the images with CSS until fixed)
You’d probably be better off downloading the latest trunk version and overwriting all BuddyPress files.
Before you overwrite though, deactivate BuddyPress.
@Bbrian017 That ticket is still open which means it isn’t fixed yet. I attached a screenshot to that ticket just to help clarify the situation I was having, which is exactly what you’re experiencing.
I’m browsing through the code to see if I can fix it, but it’ll probably take someone a lot smarter than me. Don’t fret though, it will be fixed in due time.