A new version of TFS Windows Shell Extension is about to get released within the next couple of days. This version will come with support for new capabilities that could be done through the new version from Windows Explorer. Shelving will be one of the great features that will be included into the new release.
Windows shell extension has been first introduced as a part of the December 2008 Power Tools’ release. It allows you to do many of the version control operations directly inside the Windows Explorer without using the Team Explorer.