Base64 Encoded Images Embedded in HTML

I found this write up on embedding base64 encoded images directly into html. I noticed that firefox uses this method of saving favicons when exporting bookmarks.html. What I want to do is add to my Scripting project the ability to import bookmarks.html in order to mass add bookmarks.

http://www.sweeting.org/mark/blog/2005/07/12/base64-encoded-images-embedded-in-html