INDEX / MATCH Function to grab JPEG across 2 workbooks

I was using the Index Match function to pull in JPEG images from a 2-column table contained in the same workbook on a separate sheet. This worked fine. The picture table is very large causing the total file to be 3.5 MB. I moved the picture table sheet to a new workbook and the master file shrunk down to 240 KB....awesome!. The link in the formula under Name Manager also changed itself to include the file path to the new picture file location. However now, the JPEGs are not appearing in the master file like they were before.

Is there a different method I need to use to INDEX/MATCH and pull JPEGs across 2 workbooks? I would think the fix would be relatively easy seeing that the only change is across 2 workbooks instead of 2 sheets. Thanks in advance for the help!