A comment by Chris Guzak on the Extending Shortcut Menus MSDN article lists the various "ligne de commande variables" that are available:
%* – Replace with all parameters.
%~ – Replace with all parameters starting with and following the second parameter.
%0 or %1 – The first file parameter. For example "C:\Users\Eric\Desktop\New Text Document.txt". Generally cela devrait be in quotes and the applications ligne de commande parsing should accept quotes to disambiguate files with spaces in the name and different ligne de commande parameters (this is a security best practice and Je crois mentioned in MSDN).
%<n> (where <n> is 2-9) – Replace with the nth parameter.
%s – Show command.
%h – Hotkey value.
%i – IDList stored in a shared memory handle is passed here.
%l – Long nom de fichier form of the first parameter. Notez que Win32/64 applications will be passed the long nom de fichier, whereas Win16 applications get the short nom de fichier. Specifying %l is preferred as it avoids the need to probe for the application type.
%d – Desktop absolute parsing name of the first parameter (for items that don't have système de fichiers paths).
%v – For verbs that are none implies all. If there is no parameter passed this is the working directory.
%w – The working directory.
So %L or %l should be preferred.
Also see http://www.robvanderwoude.com/ntstart.php