Description of problem: dvipng tries to open fonts with freetype before t1lib anyway, and freetype can handle Type 1 fonts just fine. dvipng should be built without t1lib.
This bug appears to have been reported against 'rawhide' during the Fedora 19 development cycle. Changing version to '19'. (As we did not run this process for some time, it could affect also pre-Fedora 19 development cycle bugs. We are very sorry. It will help us with cleanup during Fedora 19 End Of Life. Thank you.) More information and reason for this action is here: https://fedoraproject.org/wiki/BugZappers/HouseKeeping/Fedora19
Moving to texlive since that's where dvipng lives now, apparently.
Appears to be fixed now, huzzah!