Well I know that you can launch an exe with Internet Explorer by assigning a protocol to the exe Insert the following into the registry:
[HKEY_CLASSES_ROOT\notepad]
@="URL:notepad Protocol"
"URL Protocol"=""
[HKEY_CLASSES_ROOT\notepad\shell]
[HKEY_CLASSES_ROOT\notepad\shell\open]
[HKEY_CLASSES_ROOT\notepad\shell\open\command]
@="\"c:\\notepad.exe\" \"%1\""
Your link will then need to be notepad:parameters where parameters are the parameters you wish to pass. Change notepad above to whatever name you wish for your protocol.