It look like there is nothing in that folder at all.
when you goto that part of the start menu right click and click on explore - you should then be able to see in a "Windows Explorer" type view that there is nothing in there.
BUT is it happenign for EVERY start folder of just the one you have selected in the picture ?
All i know is that icons in start menu are saved in "documents and setting" folder then "All Users" or curent user is now running then "Menu Start" and then "Programs" Folder. You should see all folders named like in Menu Start. Check all folders to see is there any file in it especialy .ink files. If there is no files you shoud know whats the problem.