JavaScript Snippet doesn't work in text widget

The following code snippet does not work in my text wdiget on WordPress, is something wrong with my JavaScript? I’ve changed the URLs to xxx.com for this post:

<SCRIPT LANGUAGE="javascript" TYPE="text/javascript>

<!--

    // note: the 2nd image ("two") will be the first to appear in the animation
    // all images must be the same dimensions
    // works in NS 3, IE/NS 4+
    // other browsers or javascript disabled will see only the original image and link and no animation

    var has_loaded = 0;

    if (document.images) {

       one=new Image
       one.src="http://www.xxx.com/images/300x250ad1.jpg"

       two=new Image
       two.src="http://www.xxx.com/images/300x250ad2.jpg"

       three=new Image
       three.src="http://www.xxx.com/images/300x250ad3.jpg"

       four=new Image
       four.src="http://www.xxx.com/images/300x250ad4.jpg"

       five=new Image
       five.src="http://www.xxx.com/images/300x250ad5.jpg"

       has_loaded = 1;
    }

    go_URL = new Array();
       go_URL[0]="http://www.xxx.com";
       go_URL[1]="http://www.xxx.com";
       go_URL[2]="http://www.xxx.com";
       go_URL[3]="http://www.xxx.com";
       go_URL[4]="http://www.xxx.com";

    imgID = new Array();
       imgID[0]=one.src;
       imgID[1]=two.src;
       imgID[2]=three.src;
       imgID[3]=four.src;
       imgID[4]=five.src;

    var pause = 4000 // pause how long in milliseconds (1000 = 1 sec)

    var a = 0;
    var b = (go_URL.length - 1);

    function rotate(imgN) {

       if (has_loaded == 1) {

      if (a == b) {
     a = 0;
      }
      else {
     a++;
      }

      document.images[imgN].src = imgID[a];
      setTimeout('rotate("rotate_pic")',pause);

       } // end of if has_loaded

       if (window.status != '') { window.status = go_URL[a]; return true; }
    } // end of function rotate

    function goto_url() {
       if (document.images) {
      document.location=(go_URL[a]);
       }
       else {
      return false;
       }
    }

//-->
    </SCRIPT>

I really appreciate any help and ideas on how to fix it. Thanks!