If one imports a graphics file into a lyx document, close the document, and then delete the graphics file, the next time that the document is opened, lyx reports that the graphics file cannot be found. Fair enough. However, if the graphics file is recreated while lyx still has the document open, lyx still insists that the graphics file doesn't exist, even if the graphics is deleted and re-imported into the document. Only by exiting lyx and restarting it is the newly re-created graphics file found again.
This seems like a bug to me. Dave Raymond