Certainly not a known problem, at least one I know about and I have been on the forums for over five years.
The problem is conflicts can happen with low level drivers/hooks/shell extensions, remove one conflicting extension and no conflict, but not a definitive confirmation as to the real culprit. I know you say you worked your way through then until only avast was left.
I had a similar problem when right clicking files and I hunted the internet and my system for months until I bumped into the most unlikely shell extension, that of SnagIt image capture. I never even considered that but the latest version certainly has a problem. I only found it because of another post relating the same problem and having SnagIt installed.
I used ShellExplorerView (
http://www.nirsoft.net/) to view all shell extensions, I don't know which tool you used.
If this is a live system and not a test system the recommendation is not to install as version 5 beta isn't feature complete.
Have (or did) you another AV installed in this system, if so what was it and how did you get rid of it ?
Remnants are one area that can also cause conflict.