Please note that any modification of the exe, dll, or other game files generated by RPG Maker or
IG Maker is forbidden.
So it seems changing the pic is definitely forbidden as it clearly states any modification made to the exe is forbidden! The game.exe is generated by Rpg Maker and thus, it falls in the category mentionned on the FAQ. We don't have to look further for an answer since it was long on the site itself.
People who are planning to sell their game should consider this important point. You'll be violating the terms if you change the game.exe icon.
Edited by Pegasus, 07 August 2012 - 03:44 PM.