Hello, I just found out this by mistyping a suffix (.fig instead of .eps) for the file name in the figure inset menu.
The figure is, say figures/foo.fig foo.fig embeds epses (in fact, exported from latex), say bar.eps as relative file names Lyx fails to find bar.eps when insetting directly figures/foo.fig It should cd to the dir in which the fig files are located before exporting, I guess. I always export to eps myself, but it's just to make sure. HTH -- Jean-Pierre