Ion imaging is employed to analyze the fragments from timed Coulomb explosion studies of femtosecond (fs) molecular dynamics. The technique provides high detection efficiency and direct recording of the two-dimensional velocity of all ionized fragments. We illustrate the approach by studying photodissociation of iodine initiated by a weak femtosecond pump pulse and probed by an intense, delayed femtosecond pulse. The ion images, recorded as a function of the pump-probe delay, reveal the evolution of the internuclear separation of the dissociating I-2 molecule. The experimental results are in good agreement with quantum mechanical wave packet simulations. We discuss the perspectives for extending the studies to photochemical reactions of small polyatomic molecules.