This sounds lika a constructed problem, since you can't pass a path like
|*.
to TC via command line - the pipe symbol is intercepted by cmd.exe or Windows ShellExecute. Even writing `|*` doesn't work here on the TC command line. I tried
c:\totalcmd\TOTALCMD.exe /O `|*`
I agree that problem is a bit constructed but it is interesting why such a simple thing causes a hang, perhaps something is wrong in the message handler.
BTW quoted pipe is not interpreted as a pipe sign. When I start c:\totalcmd\TOTALCMD.exe /N "|*", I see a pipe in process' command line.