Found a good fix for this one as well. This will work on LIs or DIVs. Here’s how to do this in IE and FireFox:

li {
  display: inline;
  text-align: center;
}

li img {
  display: block;
  margin: auto;
}

The HTML looks like this:

<ul>
  <li><img src="..."/>Some text</li>
  <li><img src="..."/>Some text</li>
</ul>