Did Bridge display a preview? If so, I would suspect that Bridge could only see (understand) the previews imbedded in the files and during the rename process that is what was saved out.
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Yes, Bridge was displaying the preview
Svein, the file size has dropped from 51 Mb (as .sti, which opens to 62Mb RGB) to 4Mb. The missing data is gone.
Greg, it does sound like just the preview was saved. I had my previews set to fill the screen as much as possible, though not maximum, which would be around 4Mb.
It was lucky that I had already delivered the selected hero shots to the client, he was curious to see the rejects again so I was going to process a batch at low res just for their reference. I can still do that, but not so good if he likes one!
Anyone know if Adobe has plans to include .sti file support? Its a dangerous program to have installed if, as Greg mentioned, he was just browsing and his files were attacked.