<$transclude field=url> should be the same thing as {{!!url}}, so I don't think that's actually your problem. If you mean that it contains wikitext references like transclusions, you need to
wikify the contents of the URL field in order to get that URL. Probably what's happening is that you were able to use {{!!url}} as a parameter to the img tag, but were only able to use the transclude widget at the top level of your wikitext (where anything that comes out of a transclusion is automatically wikified), so it looks like the transclude widget is making the difference.
Wikifying the contents would look something like:
<$wikify name=wikifiedLink text={{!!url}}>
<img src=<<wikifiedLink>>>