1)   IconEdit2 5.4
Create and edit your icons with easy-to-use TrueColor Icon Editor. Allows you to paint, search for icons in your files and capture screen areas. Supports 256x256 PNG-compressed Windows 7 icons.

 2)   IconCool Studio 7.10.100420
An absolute solution to create, edit, convert, and extract Vista icons and 32-bit icons or cursors. The included Mixer creates custom icons from scratch by multiple layers and a variety of ready-to-use design elements.