I could probably get it to work, I'll give you a piece of code to try:
 Code:
Dim $strRegPath, $strUser
$strRegPath = "HKEY_CURRENT_USER\test"
$strUser = @WKSTA+"\Administrator"

Dim $objADSU, $objSD, $objDACL, $objAceNew
$objADSU = CreateObject("ADsSecurityUtility")
$objSD = $objADSU.GetSecurityDescriptor($strRegPath, 3, 1)
$objDACL = $objSD.DiscretionaryAcl
$objAceNew = CreateObject("AccessControlEntry")
$objAceNew.Trustee = $strUser
$objAceNew.AceFlags = 2
$objAceNew.AccessMask = 983103
$objAceNew.AceType = 0
$objDACL.AddAce($objAceNew)
$objSD.DiscretionaryAcl = $objDACL
$objADSU.SetSecurityDescriptor($strRegPath, 3, $objSD, 1)

Keep in mind, if you use the example key in this code that you have to create the "test" key first. Also remember that this code has the same problem as the original NTFSPerms, the permissions are not pushed down the food chain. Only keys created afterwards will inherit.