Removing the NoFolderOptions value from the registry did not work for me. What did work was using the WinBubbles tweak utility. Under the Security tab I checked the 2nd box from the top which was already unchecked, next to “Remove “Folder Options” in Windows Explorer Tools Menu”, clicked on apply, unchecked the same box, clicked on apply, and to my pleasant surprise the problem was instantly fixed without the need to log off or restart.

Thanks anyways…