Hi there thehappyman, I'm not sure if The Howling Wolves' reply is what you were after but, although I don't use a shortcut manager anymore on Windows 7, on previous OS, I always used Executor. It's free and it's portable so no installing necessary.
First go to the website to get the latest public version: executor.dk
Then go to the forum and get the latest test build to keep completely up-to-date: Executor :: View topic - Latest test build available here.
Hope this helps.