For the time being you can use the following CSS workaround:
<telerik:RadCodeBlock ID="RadCodeBlock1" runat="server">
<style>
html .RadWindow_Bootstrap.rwLoading .rwExternalContent {
background-image: url(' <%= Telerik.Web.SkinRegistrar.GetWebResourceUrl(this, typeof(RadWindow), "Telerik.Web.UI.Skins.Bootstrap.Common.loading.gif") %>')
}
</style>
</telerik:RadCodeBlock>