TimThumb giving 404 on thumbnails

Hi on my website Nave360.com
(scroll down to the post below Valve Announces Team Fortress 2 Update ‘Mann vs Machine’)
You can see TimThumb fails to generate a thumbnail, i basically been looking for a solution for a good few days with no luck. reporting this problem on TimThumb got ignored and i tried EVERY solution i found which all fails, my host UFOHost doesn’t block the script, and i tried changing the permission level to 777 and 755 which once again failed, PLEASE help me,