When you click the Windows Explorer shortcut which is Pinned to the Taskbar, or when running explorer.exe directly in Windows 7, the following error message may be displayed with text "explorer.exe" in the title bar.

This file does not have a program associated with it for performing this action. Please install a program or, if one is already installed, create an association in the Default Programs control panel.
And using the WinKey + E key sequence causes "Unspecified error"

However, Windows Explorer may launch correctly when including additional switches such as /e or /n with explorer.exe, or double-click the (My) Computer icon. This problem occurs due to missing data in the "HKCR\Folders" registry key.
Registry Fix
To fix the problem download Folder association fix (via) unzip and run the REG file. You should be able to start Windows Explorer correctly!
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Just an FYI,
I did some digging around and came to find the root cause of this particular error is the absense of this value:
Key: HKCU\Folder\shell\opennewwindow\DelegateExecute
Type: REG_SZ
Value: {11dbb47c-a525-400b-9e80-a54615a090c0}
notice if you change this value in any way you will immidiately start getting the above said errors. This is useful for those who go around changing things and want to know what it was they did so they dont do it again :)
-O
Thanks for tht registry. Now I can open explorer by CTRL+E. Thanks once more time!
At last my search for a solution to a pernicious Windows Explorer problem is solved — and so easily. I couldn’t find it on the Microsoft website, although many of us must have been afflicted by it.
Thank you and thank you again
guy u rock!!!!!
u fixed that problem 4 which i’ve been searching for 4 month.
gr8 thnx 2 u :)
This was driving me crazy, fixed the problem in 30 seconds, thanks so much!
Thanks for the registry file, it seems to have helped many users. I experienced the same issue although this fix did not work, it turned out that I did not have read permission to “HKEY_CLASSES_ROOT\Folder\shell\opennewwindow” – a key I had manually ‘hidden’ to reduce Context Menu clutter, it turns out that this is required.
Fixed it. I appreciate that you provided the exact screen clip of the problem. That assured me I was getting the right fix for my problem. Thank you. I’m running W7 SP1 32-bit.
I was looking for so long and tried so many other things that other fourms said would work but this simple reg file works. Thank God!!!!!!
thanks. you are a life saver. 10 gold stars for you:)
Love my life, thanks its because of u..!!!!!!
Romeo