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The "ShellState" value contains the configuration of explorer.exe. Normally the values in the properties windows are grayed out if set.
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This correspond to the GPO setting "Turn on Classic Shell" under "User Configuration\Policies\Administrative Templates\Windows Components\Windows Explorer". The "ClassicShell" value changes a Policy that makes this strange thing: correct boxes checked, but incorrect behavior of explorer.exe.
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Setting ShellState in HKCU\SOFTWARE\Microsoft\Windows\CurrentVersion\Explorer combined with ClassicShell=0 in HKEY_LOCAL_MACHINE\SOFTWARE\Microsoft\Windows\CurrentVersion\Policies\Explorer worked for me.
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