Кстати походу это решение от M$, т.к. присуствует в IE.Inf (со строки 207):
Код:

; ActiveSetup Microsoft Internet Explorer v4.0 Shell Registration
HKLM,"Software\Microsoft\Active Setup\Installed Components\%CLSID_IESHELL%",,,"%ASETUP_SHELL_DESC%"
HKLM,"Software\Microsoft\Active Setup\Installed Components\%CLSID_IESHELL%","ComponentID",,"IE4Shell_NT"
HKLM,"Software\Microsoft\Active Setup\Installed Components\%CLSID_IESHELL%","IsInstalled",0x00010001,1,0,0,0
HKLM,"Software\Microsoft\Active Setup\Installed Components\%CLSID_IESHELL%","Locale",,"%ASETUP_LOCALE%"
; This is temporary while we test the new ie-free method for installing the shell during GUI mode setup - ToddB
HKLM,"Software\Microsoft\Active Setup\Installed Components\%CLSID_IESHELL%","StubPath",0x00020000,"regsvr32.exe /s /n /i:U shell32.dll"
HKLM,"Software\Microsoft\Active Setup\Installed Components\%CLSID_IESHELL%","Version",,"6,0,2900,2180"
HKLM,"Software\Microsoft\Active Setup\Install Check","IE40",,"6.0.2900.2180"
[STRINGS]
CLSID_IESHELL = "{89820200-ECBD-11cf-8B85-00AA005B4340}"
ASETUP_SHELL_DESC = "Windows Desktop Update"
ASETUP_LOCALE = "RU"
только непонятно почему не выполняется..