Windows 7 symbolic link to a folder not working

I attempted to create a soft symbolic link to a folder, but the link is not working.
In Explorer, the "keybrd_lib" link does not look like a folder (screen shot below).
When the link is double clicked, an "Open with" dialog opens.

Here is how I made the symlink from the command line, run as administrator:

C:\Windows\system32>cd C:\Users\wolf\Documents\dev_proj\keyboards\keybrds

C:\Users\wolf\Documents\dev_proj\keyboards\keybrds>mklink keybrd_lib ..\..\..\Ar
duino\libraries\keybrd\
symbolic link created for keybrd_lib <<===>> ..\..\..\Arduino\libraries\keybrd\

C:\Users\wolf\Documents\dev_proj\keyboards\keybrds>ls
docs keybrd_lib keybrd_lib_old random_test_generator
firmware keybrd_lib1 keys_tester

C:\Users\wolf\Documents\dev_proj\keyboards\keybrds>cd keybrd_lib
The directory name is invalid.

I am using Windows 7.
Why is the link not working?

Thank you