Your shell extensions may have been screwed up. You will need to boot into a recovery disc or something like Hiren's boot disc where you can edit the registry. There are three of the exefile keys
- HKEY_CLASSES_ROOT\exefile
- HKEY_CURRENT_USER\Software\Classes\exefile
- HKEY_LOCAL_MACHINE\Software\Classes\exefile
In each of these will be a shell\open\command key the default value on these needs to be
"%1" %* on all of them