You guys might be interested in this:
Wad Studio v0.0.0.2b14 is a Windows application from Wilsoff, aimed at helping the user edit animated WADs (Banner and Icon). What it does is to automate the extraction of images from a WAD file provided by the user. It then converts these images to TGA format, and from there you can edit it in Photoshop or GIMP 2.0.
* 0.0.0.2b14 - 19 Feb 09 - Fixed issue of that inadvertantly launched windows media player. It turns out ALT+SHIFT+P restores WMP11 and above. The previous version used ALT+P to activate packing in U8Tool. b14 used ALT+p (lowercase) which resolved the issue.
For more details, visit: http://www.qj.net/Wii-Homebrew-Wad-S.../49/aid/128971
For the download: http://dl.qj.net/Wad-Studio-v0.0.0.2...6197/catid/526