I tried the full command you gave and it does not work either.
I tried removing /play but having quotes around %1 and it still did not work (but later did - see below).
Having /play seems to throw up some odd things as it seems to start with track 2 with a cda CD and adds a track to the end of the last Now Playing list when opening a new commercial CD.
The VLC command did not have quotes around %1 and that works OK!
I have left the command at ......
"C:\Program Files\MusicBee\MusicBee.exe" "%1"
and it now seems to be working apart from the Windows error message ......
Windows - No Disk
Exception Processing Message c0000013 Parameters 75b6bf7c 75b6bf7c
and also the exceptional long time it takes to load a 20 track mp3 CD when cddb look up track data is enabled.
I tried again to see if it would work with /Play but it would't and now it will not work again with "%1"
Seems to be very inconsistent.
I think what is happening is that if I click a track to start playing and then close MB and re-load it will resume to the state it was before closing (ie play from explorer drive) because that is how I have it set in preferences, but there is not a preference to play on start up if opened from an explorer drive.
I have stopped MusicBee from throwing up lots of rubbish when opening an mp3 CD by un-ticking the preferences box in Auto Tagging to look up CD track details but then I lose track information for commercial CD's. I cannot seem to get this right.
See my problem here ....
MP3 CD's NOT OPEN CORRECTLY FROM EXPLORER http://getmusicbee.com/forum/index.php?topic=587.msg2969#msg2969
I have since found out that it is Freedb look up that is causing the problem.
If I untick this box and just leave musicbrainz to look up track information then all is OK.