Não é o seu atalho comum
É um chamado anunciado atalho especial criado pelo Windows Installer cujo destino não pode ser alterado manualmente:
Windows Installer introduces a special type of shortcut which, while transparent to the user, contains additional metadata that Windows Installer uses through its shell integration to verify the state of the specified application's installation prior to launching the application.
Se você fosse analisar o conteúdo do atalho, você encontraria um DarwinDataBlock dentro:
The DarwinDataBlock structure specifies an application identifier that can be used instead of a link targetIDList to install an application when a shell link is activated.
O identificador do aplicativo é
[...] an encoded representation of a specific product, component, and feature. If this extra value exists, Windows Installer will decode the data, and use it to perform checks against that product and component. If the component is found to be missing or corrupt, Windows Installer will launch a repair to restore the missing file or data, and finally launch the referenced application as normal, passing the appropriate command-line options to it.
Solução
Como resposta de @Johan Buret, use ShellRunAs da Sysinternals:
From a command prompt type the following:
shellrunas.exe /reg
This will register the context menu handler.
ShellRunas provides functionality similar to that of Runas to launch programs as a different user via a convenient shell context-menu entry.
Solução alternativa
Crie um novo atalho apontando para o mesmo aplicativo.