Does RegIni.exe meet your needs? You can write a RegIni script that changes the permissions, and then call RegIni with the script as a parameter.
For example, if you wanted only administrators to have full access to that key, the script would look like this:
HKEY_CLASSES_ROOT\CLSID{323CA680-C24D-4099-B94D-446DD2D7249E}\ShellFolder [1]
Though presumably you would also want to grant the system access to the key, and perhaps read-only access to everyone else, in which case the security suffix would be
[1 8 17]
You can find the security suffix numbers in this table:
1 - Administrators Full Access
2 - Administrators Read Access
3 - Administrators Read and Write Access
4 - Administrators Read, Write and Delete Access
5 - Creator Full Access
6 - Creator Read and Write Access
7 - World Full Access
8 - World Read Access
9 - World Read and Write Access
10 - World Read, Write and Delete Access
11 - Power Users Full Access
12 - Power Users Read and Write Access
13 - Power Users Read, Write and Delete Access
14 - System Operators Full Access
15 - System Operators Read and Write Access
16 - System Operators Read, Write and Delete Access
17 - System Full Access
18 - System Read and Write Access
19 - System Read Access
20 - Administrators Read, Write and Execute Access
21 - Interactive User Full Access
22 - Interactive User Read and Write Access
23 - Interactive User Read, Write and Delete Access
And it goes without saying that you should have a good backup before playing with this for the first time, and maybe practice on a dummy registry key to avoid any unfortunate accidents.