А всё таки - чего хотим дождаться ?

Ловите

Declare Function TerminateProcess Lib "kernel32.dll" (ByVal h As Long, ByVal rc As Long) As Long
Declare Function WaitForSingleObject Lib "kernel32.dll" (ByVal h As Long, ByVal rc As Long) As Long
Declare Function GetExitCodeProcess Lib "kernel32.dll" (ByVal h As Long, s As Long) As Long

Function RunTask(TS As String, tmo As Long, Optional mode = vbHide) As Long
Dim PID, h, rc As Long
Dim s As Long
PID = 0
RunTask = -1

On Error Resume Next
PID = Shell(TS, mode)
If PID = 0 Then Exit Function

h = OpenProcess(&H1F0FFF, 0, PID)
If h = 0 Then Exit Function

rc = WaitForSingleObject(h, tmo * 1000)
If rc = WAIT_TIMEOUT Or rc = WAIT_FAILED Then
rc = TerminateProcess(h, STILL_ACTIVE)
If rc = 0 Then
CloseHandle (h)
Exit Function
End If
Sleep (1000)
End If

rc = GetExitCodeProcess(h, s)
If rc <> 0 Then RunTask = s

CloseHandle (h)
Exit Function
End Function

Константы забил.


Public Const WAIT_TIMEOUT = 258
Public Const WAIT_ABANDONED = 128
Public Const WAIT_OBJECT_0 = 0
Public Const WAIT_FAILED = &HFFFFFFFF
Public Const STILL_ACTIVE = &H103

Шеллу нужно подсовывать путь к исполняему файлу

Если лениво искать, то можно написать
Shell (Environ$("COMSPEC") & " /C " & path)

Тогда вместо ключика /C поставь /K - cmd(command) никуда не слиняет и посмотри что он кажет