To reproduce this issue:

1. Edit /mtk/dialogs/components/image.yaml to be

   form:
     tabs:
       - name: tabImage
         fields:
           - name: image
             class: info.magnolia.ui.form.field.definition.BasicUploadFieldDefinition
             allowedMimeTypePattern: image.*
             label: Image
             binaryNodeName: image
             required: true
   actions:
     commit:
       class: info.magnolia.ui.admincentral.dialog.action.SaveDialogActionDefinition
     cancel:
       class: info.magnolia.ui.admincentral.dialog.action.CancelDialogActionDefinition
   

2. Edit /mtk/templates/components/image.ftl

   [#assign rendition = imgfn.getImageVariationLinkFromBinary(content.image, "original")]
   <div><image src="${rendition}" /></div>
   

3. Create a new page called imaging and assign it the basic template.
4. Create a new image component with image A.
5. Publish the imaging page. (v1.0)
6. Edit the image component with image B.
7. Publish the imaging page. (v1.1)
8. Approve page v1.0 with image A and verify it on public.
9. Approve page v1.1 with image B and see image A remains.

The final state of the page looked like this in the JCR Browser:

Here we can see all the states are incorrect.

I did verify the versions of each page looked good. It appears the issue is with the resources subnode of the component. It does get published upon first activation but on subsequent activation from the Pages app there is no change in the image. You must go to the JCR browser app and publish the resource node directly from there. Even after doing that the node still reflects the red state of un-activated.