Well here is what I found out:
I am running NT4.0 Server and the same thing happened to
me. Found out that a few registry keys were missing.
See if you are missing them also, do the following
1.Start Regedit.
2.Search for Directory.
3.This should bring you to Hkey_Classes_Root\Directory.
4.Expand this section by clicking on the "+".
5.Under shell look for FIND.
7.Scroll down the listing and look for DIRECTORY to Folder.
8.Expand the section under shell.
9.And see if you have OPEN and EXPLORE.
I had a second NT4.0 Server that I exported the keys from
and then imported them into the server that was not
working.
All seams to be find.
I would think you should be able to export from an NT
Workstation and import them into a server, what every you
do make sure to export your entire registry before making
any changes to it.
If you can't find the key to export send me an e-mail and
I will send you my keys.
P.S. Found this note on a website: When you remove Open,
you cannot open any folders.