Explorer's handling of being elevated is a bit flaky.
It is possible, although it can get confusing.
First, enable launching folder windows in a seperate process from a Windows
Explorer window (organize -> folder and search options -> view tab)
Then, close all open explorer winodws (except for the desktop/taskbar).
You can only open an administrative explorer window if you don't have any
other explorer windows open.
Finally, right-click Windows Explorer and click Run As Administrator.
WARNING! From this point on, *any explorer window* that opens will be
running as administrator, even if you don't right-click it and click run as
To get your explorer windows to open WITHOUT admin power, close all open
explorer windows again, and then open an explorer window normally. It is now
running without admin power.
Microsoft MVP - Windows Shell/User
Windows Vista Support Faq http://www.jimmah.com/vista/