Forget the Z: stuff. Did you not read what I said? The redirector sets up the Z: drive during logon and tears it down afterwards so of course it would not work if you test it manually.

For Wintendo, try:
Start /Wait %0\..\wkix32.exe %0\..\hello.kix
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Give a man a fish and he will be back for more. Slap him with a fish and he will go away forever.