Yup. believe it or not this bug has been in Access forever. There is a way around it, but it might not work for your situation:
The graphic can either be embedded in the Access object (which is what your situation is) or it can be linked to. In the latter case the graphic is NOT in the object; instead there is a link to where it is and when Access displays the object it pulls it from the link. This solves the problem of the huge database size, but it required the linked-to graphic to be on the hard drive from which Access is running. Access cannot pull the object from a link to a remote computer; the link has to point to a file on the local hard drive.
Depending on how your users are situated this can be impossible to make happen. But if you can control what's on their hard drives it is a way to get around the problem.