Yes, very simple:
Indigo doesn't support 8bit Images.
24 or 32 bit work fine

also working are 48 and 64 bit images (actually, 16-bit-per-channel-images, as it else might be misunderstood as HDR images, which are 32-bit-per-channel

)
It's like this:
The image needs to have 3 or 4 channels
One channel needs either 8 or 16 bit depth
The channels either are Red, Green and Blue, or Red, Green, Blue and Alpha (RGB or RGBA)
The Alpha channel gets ignored
The format needs to be supported by Indigo:
png
jpg
bmp
tif (I heard...)
tga (thx dougal)
maybe some others, which are very uncommon
Indigo's images as a background lightsource (HDRi) need to be:
either exr in latlong format
or float in spherical format
Who ever knows it better, feel free to correct me

This should be the *minimum*, Indigo supports. Who ever corrects me, most certainly will only add some stuff, I bet...