Windows Shell Extensions - Out of Proc

[Ralf]

I'm trying to develop Windows Shell Extensions with the Python Win32
Extensions. Most of the samples are working. However, I have a
slightly different need: I want the Python COM server to run as a
separate process ("LocalServer" or "OutOfProc").

As I understand, both the InProc and LocalServer versions are created
automatically. So to disable the InProc version, I removed the
InProc32 key from the registry, for the context menu example
distributed with the Python Win32 Extensions. However, this removes
the context menu from Explorer, even though the LocalServer32 key
remains. I could access the COM objects in the example with a Python
client, so I have no idea why Explorer can't use the LocalServer
version.

Can anyone help with this? I've Google'd for hours, without much
success. I couldn't even find a good example for any other language,
only references saying it's possible for C#.