You can't do what you want to do with SysCreateShadow. This only takes the path to the source object and the path place the shadow is to be created. Both parameters can be an ObjectId.To do what you want, you can use SysCreateObject. An example I use is:
rc = SysCreateObject('WPShadow',
'FireFox',
'<WP_DESKTOP>',
'SHADOWID=<FirefoxEXE>;OBJECTID=<FirefoxShadow>', ,
'Replace')
In the above 'FireFox' is the name of the shadow object, SHADOWID points to the object I am creating a shadow of and OBJECTID is the ObjectID for this Shadow object. This is the id I could use later to delete it. The parameter with these in it is the "Setup String".
There should be a way to set the hot key (I assume you are using XWorkplace or eWorkplace) with a value in the setup string. At the moment I can't see what the setting would be. You could ask this on the XWorplace user mailing list.
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David