The code is an example of how to host the WebBrowser control, load an html that uses javascript for the menu, and connect with the events fired both with the WebBrowser Control and the loaded html page. The images can be changed modifying the html pages.
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Can more than one OCX carousel control be placed on a form?
What you place in the form is not a carousel control, but the WebBrowser control. You can place as many as you wish, but each one will need to have its own classes for events and you will have to create additional html pages.