Nope, not the context menu, I mean actually typed into the address bar. Same as you'd do (and get) if you type it into Win+R prompt.
I'm not sure exactly what Explorer is doing, but presumably just proxies/pipes the command through to the shell that interprets the 'wt' alias, and goes and launches its exe.
Instead of using the path field, activate the main file display and type a > character to open the command field. You can type commands to run them from there.