Run registry key incorrect behavior

How to reproduce:

• Run regedit.exe
• Navigate HKLM\SOFTWARE\Microsoft\Windows\CurrentVersion\Run
• Create 3 keys:

  REG_SZ : C:\ReactOS\system32\calc.exe

  REG_SZ : %SystemRoot%\system32\notepad.exe

  REG_EXPAND_SZ : %SystemRoot%\system32\cmd.exe

• Expected behavior (tested on Windows XP):
  • calc.exe starts
  • notepad.exe doesn't start
  • cmd.exe starts
• Observed behavior (tested on 0.4.15-dev-460-gb338fb7):
  • calc.exe starts
  • notepad.exe starts
  • cmd.exe doesn't start

This bug particularly affects VirtualBox Guest Additions (VBoxTray.exe). Also not sure if it's regression, earliest build tested 0.4.11-dev-945-g3493992 also affected.