Save HICON as a png

Answer 1

I'm missing the 'copy' from your code:

Graphics* g = Graphics::FromImage(copy);

Looking at the images it appears that the device context you're drawing the icon to doesn't have 32-bit colors (alpha channel is missing).

Try creating a DC like this:

HDC hDC = CreateCompatibleDC(NULL);

and then select a 32-bit colored (empty) bitmap into that dc. After that you can draw the icon and save it.