I notice that you have
#include <memorysaver.h> // Disables other screen chip information & savers memory space/ Didn't do anything?
In your main sketch.
memorysaver.h is actually called by UTFT.cpp and it does not need to be included anywhere else. What you do need to do is edit memorysaver.h and follow the instructions included i.e.
Uncomment the lines for the displaycontrollers that you don't use
You should see a significant reduction in memory usage.
I have had no problems in creating files in Photoshop and saving them as a JPG, converting them using the supplied software, and using them in a sketch. Maybe there is a problem with the CorelDraw format - can you create what you need in CorelDraw and then load this file into another graphic program and save it from there??
Cheers