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It's actually a known Microsoft XP bug that they cover in Knowledge Base Article 822430. But, although they have a fix, it's not publicly available. In order to get it, you have to phone them and somehow convince them that you're worthy of receiving it. (Plus pay for the phone support.)
However, there is an alternate fix that's quick and easy:
Run regedit.
Go to HKEY_CLASSES_ROOT\SystemFileAssociations\.avi\shellex\PropertyHandler.
Delete the default value of {87D62D94-71B3-4b9a-9489-5FE6850DC73E}.