You should update to the last version, currently 2.6.2, and test again. Discussing possible problems in older versions is counterproductive.
The
preview handler tools extension is not a full PDF preview handler, it just extend any of the installed PDF preview handler(s) (that most common PDF readers install) with enhanced functionality. What is your system default PDF reader?
Having the preview pane showing only that icon normally happens when the preview tools are set to show in a stand alone window, but to set that option the tools had to work at least one time (so you could manually set the option from the main menu), and the stand alone window showing somewhere on your desktop, even if behind another application(s).
Better if you update to the last version and, if the problem persist, use the Windows registry editor to export the key
HKEY_CURRENT_USER\SOFTWARE\PDFShellTools\Options\PreviewHandler to a file and attach it here in a reply, so I can check it.