@usaesp2011 My initial testing shows no unwanted effects on the site and it works the same as before. As for traffic, anything https is better these days what with Google favouring search results that include https. It will probably be a good thing.
The problem seems to be the way WordPress handles images in 4.4.
This is NOT a WooCommerce issue.
I found this article useful: http://wptavern.com/how-to-fix-images-not-loading-in-wordpress-4-4-while-using-ssl
Basically, as xyon81 said, setting the site to https worked.
Hi usaesp2011
That screenshot shows exactly the problem I too am having.
Thanks