I'm getting into sitecore Email Campaigns Manager (ECM).
I'm trying to create a newsletter.
So I go to E-mail campaigns -> Test Target Audience -> Drafts -> Newsletter Message and send messages (dispatch messages).
The audience recieves empty messages insted of beautiful HTML with images.
I also see white area instead of preview of a message.

Sitecore 6.3, ECM 1.1
I consider it's a bug. Have anyone came across this issue? What can be the reasons?