I bet there is a binding error displayed in output window. :)
How about you post us that error message here.
Btw, in such cases its more propriate to use TemplateBinding instead of RelativeSource TemplatedParent.
TemplateBinding is lets say it like this, specified to work well in control's template. :)
Check those links out:
http://msdn.microsoft.com/en-us/library/ms742882(v=vs.110).aspx
http://www.codeproject.com/Tips/599954/WPF-TemplateBinding-with-ControlTemplate
Edit :
Ahhh you are talking about location of your image.
By default, the Image control only recognize compiled resource image when using XAML to specify its Source property. But, we can use converter or custom markup extension to achieve this goal. The following links contain information about data binding converter and markup extension.
Therefore set that png to build action -> resource and rebuild your solution or use this:
<Image>
<Image.Source>
<BitmapImage UriSource="../Relative/Path/To/Image.png" />
</Image.Source>
</Image>
Though if you wish to use MVVM on this and change path based on data I suggest you to use Bindings:
<Image Source="{Binding MyPath}" Height="50"... />