Ha! How funny. I use cPanel, myself - so I know exactly what you're talking about :)
I also have hotlink protection enabled on my sites. The only thing it's used for is to prevent outside parties from "hotlinking" to your images - in essence, to keep people from linking to the images on your server and having them served up on their page, using up your bandwidth.
You *can* edit it to allow hotlinking from yourself, however. I don't know what yours looks like, but if you add your sites to the "allowed" list, then you should be able to link to yourself, thus allowing the server to access files within itself to display to the public.
At the beginning of the list, you should have something like this:
Those are three of my domains that are all on the same host. I can link back and forth between these URL's because they're in my "allowed list" of places that *can* hotlink to me.
So if you replace your own domains in that format, and place it at the very top of your hotlink list, you should be able to serve up images just fine.