Normally, the user can't directly see the content of a virtual environment ("VE") from the "local" OS (except for running processes).
But an application that is running inside a VE can access those resources (like if you launch regedit from within a virtualized application).
Microsoft provides a way to accomplish that by using the SFTTRAY /EXE CMD.EXE <AppName Ver>
Often you don't need the "ver", but AppName and Ver have to be specified Case Sensitive. That way, a CMD (or regedit or whatever except Explorer) runs within the VE.
Type "sfttray /?" for more help
If you want it more convinient, try ACDC from http://www.loginconsultants.com/index.php?option=com_docman&task=cat_view&gid=20&Itemid=149