I am getting this problem too. After trying to register a few pseudo-users myself, using a bunch of different browsers I realised that there was a page caching problem with the new user page. If a user visits the registration page to check it out and then navigates away for whatever reason they get the cached captcha image from the previous visit - which obviously isn't the right one.
The same thing happens if the page verification fails, because they got a detail wrong such as not enough chars in the info box.
I think that this is a htaccess mod_expires problem, as some other pages had a caching issue too. but i have added the
ExpiresActive On command to my htaccess file and the captcha issue alone remains. never thought of looking to see if the register.php page has a different htaccess file though...
one minute..
Nope it is in the base directory, so should be getting refreshed.
I did spot that the simg directory (where it seems the captcha image creation call is made) has a htacces file with one no indexes instruction, so its not here - but the simg.php script looks a bit odd, for a start it is adding a img/gif header to the .png file it outputs.
I'll get to the bottom of this if it kills me.