I have created a newsletter in MS Word, but when I paste it into the editor the images do not appear

That's normal: those images do not exist in the system, so you need to upload them separately. If you have the files, upload them using the "Image Manager" feature in the HTML editor.

If you don't have the files (i.e. the images only "exist" in the MS Word document), you have two options:

1. Copy and paste them into a graphics program (e.g. Adobe Fireworks or even Windows Paint, if using Windows 7), save them as a GIF, JPEG, or PNG, and then upload them to the system using the "Image Manager".
2. Use a free program that allows you to capture portions of the screen as images that can then be loaded into the HTML editor using the "Image Manager". Follow these simple steps to capture an image from a document (word, pdf, excel and other formats):
   1. Download and install a program such as http://wisdom-soft.com/products/screenhunter_free.htm;
   2. It will be found in the Start menu: run it in standby mode (unflag the"Mouse Pointer" option);
   3. Open the Word file, and zoom out to see the page at a reduced size, until the image you want to send has the desired size;
   4. Press F6;
   5. Keep your left mouse button held down and drag the pointer to select the whole image.
   6. The file is then saved on the desktop, in GIF format.
   7. Then, you just need to load the image into the editor as usual. In case the image is very large, it is better to capture parts of it, then combine them using tables with border set to 0. Areas of text can be copied and pasted directly, to avoid spam filters.

When copying and pasting a Word document, the text and the format are kept (except for some specific parts of Word code that do not exist in HTML), while the images are replaced by white boxes with a red "X" inside. 

To restore the images, click on each of the red "X" in the HTML editor, click on "Image Manager" in the toolbar, then manually upload the image from your hard disk, if you have not already done so. Note that you may need to resize the images, so that it does not take too long to download all parts of the HTML message in an email client: the Image Manager has a function that allows you to do so.