Index: sites/all/modules/image/image.imagemagick.inc
===================================================================
--- sites/all/modules/image/image.imagemagick.inc	(revision 19)
+++ sites/all/modules/image/image.imagemagick.inc	(working copy)
@@ -52,6 +52,13 @@
 }
 
 function _image_imagemagick_check_path($path, $attach_error_to = FALSE) {
+  // Try it out and return without errors on success
+  $handle = popen($path . " -version", 'r');
+  $im_version = fread($handle, 2096);
+  pclose($handle);
+  if (strpos($im_version, 'ImageMagick') !== FALSE) {
+    return TRUE;
+  }
   if (file_exists($path)) {
     return TRUE;
   }