I can view all my wmf files as thumbnails in Windows Explorer, then when I double click on the thumbnail it opens with Microsoft Office Picture Manager, It will also open with Windows Picture and Fax viewer if I right click the thumbnail and choose that program.
For awhile I lost viewing of all my thumbnails in Windows Explorer until I installed the ICO filter in CorelDraw under options / global / filters / raster, now I see thumbnails of everything.
Having said all that I am, however, using Windows XP SP 2, that may be the difference.