Is the background image stored in a container field? Does it need to be? (You can place a layout image directly on the layout by pasting it from the clipboard if it is not something that will change from record.)
If it's in a container field, select View | Show | Sample Data and you should see the image in the field.
Thanks PhilModJunk, that worked! I was under the mistaken impression that I had to make a container of some sort to place an image in the layout. Thanks for the help!
A container field can be a good option. If you want to use this image on several different layouts, a container field makes it possible to insert a new image in the container field and then the change will update all layouts that use the container field.