Since you have full path to image file...
May be set public variable to hold image path. Set it when button is clicked.
Then use Worksheet_SelectionChange event, check if variable length > 0, if it is, insert image using variable, and using target position to adjust location.
So something like...
In standard module:
Public myImgPath As String
Sub LaunchShapes()
frmShapes.Show
End Sub
In Userform module:
Private Sub CommandButton1_Click()
myImgPath = "C:\FolderPath\Saved Pictures\test.JPG"
Unload Me
End Sub
In ThisWorkbook module.
Private Sub Workbook_SheetSelectionChange(ByVal Sh As Object, ByVal Target As Range)
Dim p
On Error GoTo ErrHandle:
If Len(myImgPath) > 0 Then
Set p = Target.Parent.Pictures.Insert(myImgPath)
p.Top = Target.Top
p.Left = Target.Left
End If
ErrHandle:
myImgPath = ""
End Sub
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