Haven't run it on windows for a year or so thankfully; but I think your command line is fine, you don't need the ./ as you would use on UNIX. I would try doing a 'dir /p' and try to check that the executable osceleton.exe is actually there in the folder.
oooh hang on, just taken a second look and realised you are using a shortcut. Another way to do this is do the following:
* Press Windows Key and R to bring up a run box
* type in 'cmd' into the run box and let it run, that should bring up a command prompt
* type something like: cd c:\Program Files (x86)\KINECTAR... and the rest you can copy from the shortcut window
* then once you are in a folder that has osceleton.exe in then you can type osceleton.exe -w -r and hope for the best