Public Sub TogglePicturePlaceHolder() Dim intIndex As Integer

If Application.Documents.Count = 0 Then Exit Sub

If Application.ActiveDocument.InlineShapes.Count = 0 Then Exit Sub

With ActiveWindow.View
    .ShowPicturePlaceHolders = Not (.ShowPicturePlaceHolders)
End With

Call TogglePictPlaceholderButton

End Sub

Private Sub TogglePictPlaceholderButton() Dim intState As Integer

With Application
    If .ActiveWindow.View.ShowPicturePlaceHolders Then
        intState = msoButtonDown
    Else
        intState = msoButtonUp
    End If
    
    On Error Resume Next
    .CommandBars.FindControl(Tag:="cmdPicPlaceholder").State = intState
End With

End Sub