What do you mean by extracting the pictures? If you want to make a mod for FOT all you need to do is unpack the sprites_0.BOS file to your core folder. Then you'll be able to use the editors, that come with the patch, to make new weapons.
If you want the actual images download Redviewer or sprite2gif (from NMA downloads section) unpack the sprites and use either program to extract the images, Redviewer will extract them as tgas.