This is very interesting actually.
I can't really say I seen this, ever. Congrats for figuring it out.
BTW, using NU can be risky, at least on the FAT disk. When Win95 came out it there were red-flag warnings to never again use the 16-bit apps, and only run the 'new and improved' bloated 32-bit programs. I'm sure a few of them were okay, but everything disk related was considered dangerous.
I actually did notice the missing date/time on the files in the screenshot and the very next thing I was going to suggest was to get yourself a real file manager and let that EXPLORER dog die. Anything will suffice really, as long as it shows all the details including file attributes ( actually EXPLORER has that option as well, you should enable that in choose details
). I use PowerDesk out of long-running habit, but there are many others.
It's not like you lose EXPLORER or anything by using a 3rd party dedicated file manager, but you gain two things. Most of them store their settings privately rather than bloating the registry full of barely editable or understandable settings. Also, EXPLORER is itself an instance of the Windows shell so if you manage to crash it, you likely take down the shell in the process. And the reverse might be true - if the shell is slow or buggy from some weird problem it might impact your ability to browse files in the Explorer window(s). It's just too tangled in my opinion. 3rd party apps are almost always much more insulated from these things.
Oh, what is it anyway, "Windows Classic" or Themes service disabled?