every body's answer (those who relate to regedit) was incomplete... tht's why the arrows were still visible.....
Do This:
1) Start --> Run type 'regedit' (without quotes)
2) Now we have to delete the 'IsShortCut' value from 3 different places.
(i) First delete it from 'HKEY_CLASSES_ROOT\lnkfile'
(ii) Then from 'HKEY_CLASSES_ROOT\piffile'
(iii) Again from 'HKEY_CLASSES_ROOT\InternetShortcut'
3) Get out of Registry Editor
4) Restart
No More Arrows !!!
Digitally yours,
Jal