FlashFXP doesn't validate links, it has a pre-defined list of known file extensions/names. If the file name matches then it's treated as a file. In future versions we plan on adding an option to automatically validate links to determine if they're in fact a file/folder, though validation can be quite slow depending on the number of links.
I don't have access to the FlashFXP source code right now, but I suspect there might be a problem with the pattern matching causing that mask to be treated as a file. As soon as my main pc is back up and running i'll look into it.
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