Does imageshack/html links not work on entry posts?

Hi , does imageshack/html links not work on the entry posts? Before i upgraded to the latest mt 4.2, I was able to put in this line of website hotlink code when in the entry posts and the pictures would turn up when I publish the entries..example:

Hey! check out the pic above

—-end

And my entry would come out with the pic, aligned in the center together with the “check out the pic above” posting below it..but now for the new mt, once i do that i just get the line of code as opposed to the picture..am i missing something? Ive checked the code and i did it the same for the other older posts (before i upgraded to 4.2)

Cheers people for the help!