Is it possible to replace the windows explorer context menu with something other than a menu?

I would like to write an application/extension that would replace the default explorer right-click context m开发者_运维知识库enu with something other than a menu, preferably a custom window. Is this possible, and if so, how?

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I haven't tried it myself, but implementing a shell extension that subclasses the explorer window seems like the way to go. The following CodeProject article talks about a shell extension with a keyboard hook. It should be possible to adapt this to intercept the mouse and WM_CONTEXT messages:

Shell Extension with Keyboard Hook