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I just installed Agenda-x earlier this morning and images work fine. I used a relative path into XOOPS root image directory using a new directory I created like this:
images/cal_images/
Then I placed a bunch of jpgs in 'cal_images' sequentally numbered, although I don't think the numbering makes a difference since the module pulls any kind of image from directory you point it to. I did spend some time re-sizing and framing all the new images looks like each time page is pulled it loads something new. I will run out of images quickly so have to make a few more today.
My play site is listed in my profile if you want to look.
rocket98